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Enphase Energy (ENPH) to Post Q3 Earnings: What's in Store?
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Enphase Energy, Inc. (ENPH - Free Report) is scheduled to report its third-quarter 2023 results on Oct 26 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 15.75%. Enphase Energy has a trailing four-quarter earnings surprise of 16.17%, on average.
Factors to Note
The solid sell-through of microinverters, buoyed by the increasing demand trend witnessed in the solar market lately, is likely to have benefited Enphase’s sales in the third quarter. This, along with the strong shipment of its batteries and the launch of a handful of its products, particularly in European markets, must have boosted ENPH’s revenues in the soon-to-be-reported quarter.
Region-wise, Europe and Australia are likely to have continued to contribute to Enphase’s third-quarter revenues. However, macroeconomic factors in the United States are likely to have significantly continued to dampen revenues from this part of the business in the third quarter.
The Zacks Consensus Estimate for ENPH’s third-quarter revenues is pegged at $565.8 million, suggesting a decline of 10.9% from the year-ago quarter.
A weak top line may have dampened its overall bottom line in the third quarter of 2023. Also, as the company continues to invest in product innovation, customer service and international growth, ENPH might have incurred higher operating expenses. This may dent its overall margin performance, thus unfavorably impacting its earnings in the third quarter of 2023.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.03 per share. This indicates a decline of 17.6% from the prior-year reported figure.
Our proven model does not conclusively predict an earnings beat for Enphase Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: Enphase’s Earnings ESP is -0.42%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three companies in the same sector you may want to consider as these have the right combination of elements to post an earnings beat this season:
Chevron (CVX - Free Report) currently has an Earnings ESP of +0.96% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter sales is pegged at $54 billion, suggesting a decline of 18.9% from the year-ago quarter’s tally.
Estimates for CVX’s third-quarter bottom line, pegged at a loss of $3.58 per share, call for a deterioration from the year-ago quarter.
Nextracker Inc. (NXT - Free Report) currently has an Earnings ESP of +2.19% and a Zacks Rank #3. The Zacks Consensus Estimate for Nextracker’s third-quarter sales is pegged at $546.9 million.
Estimates for the company’s third-quarter earnings are pegged at 34 cents per share. NXT has a four-quarter earnings surprise of 18.97%, on average.
Constellation Energy Corporation (CEG - Free Report) currently has an Earnings ESP of +2.42% and a Zacks Rank #2. The Zacks Consensus Estimate for Constellation’s third-quarter sales implies an improvement of 12.5% from the prior-year reported figure.
CEG delivered an earnings surprise of 228.21% in the last reported quarter. Third-quarter earnings estimates, pegged at $1.38 per share, imply a significant improvement from the year-ago quarter’s tally.
Image: Bigstock
Enphase Energy (ENPH) to Post Q3 Earnings: What's in Store?
Enphase Energy, Inc. (ENPH - Free Report) is scheduled to report its third-quarter 2023 results on Oct 26 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 15.75%. Enphase Energy has a trailing four-quarter earnings surprise of 16.17%, on average.
Factors to Note
The solid sell-through of microinverters, buoyed by the increasing demand trend witnessed in the solar market lately, is likely to have benefited Enphase’s sales in the third quarter. This, along with the strong shipment of its batteries and the launch of a handful of its products, particularly in European markets, must have boosted ENPH’s revenues in the soon-to-be-reported quarter.
Region-wise, Europe and Australia are likely to have continued to contribute to Enphase’s third-quarter revenues. However, macroeconomic factors in the United States are likely to have significantly continued to dampen revenues from this part of the business in the third quarter.
The Zacks Consensus Estimate for ENPH’s third-quarter revenues is pegged at $565.8 million, suggesting a decline of 10.9% from the year-ago quarter.
A weak top line may have dampened its overall bottom line in the third quarter of 2023. Also, as the company continues to invest in product innovation, customer service and international growth, ENPH might have incurred higher operating expenses. This may dent its overall margin performance, thus unfavorably impacting its earnings in the third quarter of 2023.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.03 per share. This indicates a decline of 17.6% from the prior-year reported figure.
Enphase Energy, Inc. Price and EPS Surprise
Enphase Energy, Inc. price-eps-surprise | Enphase Energy, Inc. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Enphase Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: Enphase’s Earnings ESP is -0.42%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Enphase Energy currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three companies in the same sector you may want to consider as these have the right combination of elements to post an earnings beat this season:
Chevron (CVX - Free Report) currently has an Earnings ESP of +0.96% and a Zacks Rank #2. The Zacks Consensus Estimate for its third-quarter sales is pegged at $54 billion, suggesting a decline of 18.9% from the year-ago quarter’s tally.
Estimates for CVX’s third-quarter bottom line, pegged at a loss of $3.58 per share, call for a deterioration from the year-ago quarter.
Nextracker Inc. (NXT - Free Report) currently has an Earnings ESP of +2.19% and a Zacks Rank #3. The Zacks Consensus Estimate for Nextracker’s third-quarter sales is pegged at $546.9 million.
Estimates for the company’s third-quarter earnings are pegged at 34 cents per share. NXT has a four-quarter earnings surprise of 18.97%, on average.
Constellation Energy Corporation (CEG - Free Report) currently has an Earnings ESP of +2.42% and a Zacks Rank #2. The Zacks Consensus Estimate for Constellation’s third-quarter sales implies an improvement of 12.5% from the prior-year reported figure.
CEG delivered an earnings surprise of 228.21% in the last reported quarter. Third-quarter earnings estimates, pegged at $1.38 per share, imply a significant improvement from the year-ago quarter’s tally.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.