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Enphase Energy (ENPH) to Post Q1 Earnings: What's in Store?
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Enphase Energy, Inc. (ENPH - Free Report) is scheduled to report first-quarter results on Apr 23, after the closing bell.
In the last reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate. Enphase Energy has a trailing four-quarter average earnings surprise of 7.24%.
Factors to Note
Solid shipment of batteries backed by a solid demand trend in the solar market is expected to have contributed favorably to ENPH’s top-line growth.
Region-wise, the Netherlands, France, Germany and Europe are likely to have witnessed an accelerated demand in the to-be-reported quarter, thereby contributing to the company’s revenues.
However, the closing of operations at Enphase Energy’s contract manufacturing locations in Romania and Wisconsin, coupled with the reduction in factory and channel inventory, might have resulted in lower shipments from the U.S. facilities in the first quarter. Moreover, unfavorable seasonality in the first quarter is expected to have resulted in lower sell-through of microinverters. These factors are likely to have hurt ENPH’s top-line performance in the quarter.
The Zacks Consensus Estimate for ENPH’s first-quarter revenues is pegged at $279.3 million, indicating a decline of 61.5% from the year-ago quarter’s level.
A weak top line may have dampened its overall bottom line in the first quarter of 2024. Also, macroeconomic factors like the transition from net energy metering (NEM) 2.0 to NEM 3.0 in California have been slow due to customers’ lack of confidence. This might have dented the company’s overall performance, thereby unfavorably impacting its earnings in the to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 43 cents per share, indicating a decline of 68.6% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Enphase Energy this time around. The combination of a positive Earnings ESP and 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 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three companies from the same sector that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Nextracker Inc. (NXT - Free Report) currently has an Earnings ESP of +23.75% and a Zacks Rank #1. The Zacks Consensus Estimate for NXT’s first-quarter sales is pegged at $681.8 million, indicating an improvement of 31.5% from the year-ago quarter’s reported figure.
Estimates for NXT’s first-quarter earnings are pegged at 60 cents per share, indicating a 185.7% improvement from the prior-year quarter’s reported figure. The stock has a four-quarter earnings surprise of 56.26%, on average.
Canadian Solar (CSIQ - Free Report) currently has an Earnings ESP of +29.52% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter sales is pegged at $1.28 billion.
Estimates for CSIQ’s first-quarter loss are pegged at 26 cents per share. The stock has a four-quarter average earnings surprise of 56.24%.
CNX Resources (CNX - Free Report) currently has an Earnings ESP of +5.12% and a Zacks Rank #3. The Zacks Consensus Estimate for CNX’s first-quarter sales is pegged at $421.3 million, implying an improvement of 6.7% from the prior-year reported figure.
Estimates for CNX’s first-quarter earnings are pegged at 36 cents per share. The stock has a four-quarter average earnings surprise of 58.64%.
Image: Bigstock
Enphase Energy (ENPH) to Post Q1 Earnings: What's in Store?
Enphase Energy, Inc. (ENPH - Free Report) is scheduled to report first-quarter results on Apr 23, after the closing bell.
In the last reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate. Enphase Energy has a trailing four-quarter average earnings surprise of 7.24%.
Factors to Note
Solid shipment of batteries backed by a solid demand trend in the solar market is expected to have contributed favorably to ENPH’s top-line growth.
Region-wise, the Netherlands, France, Germany and Europe are likely to have witnessed an accelerated demand in the to-be-reported quarter, thereby contributing to the company’s revenues.
Enphase Energy, Inc. Price and EPS Surprise
Enphase Energy, Inc. price-eps-surprise | Enphase Energy, Inc. Quote
However, the closing of operations at Enphase Energy’s contract manufacturing locations in Romania and Wisconsin, coupled with the reduction in factory and channel inventory, might have resulted in lower shipments from the U.S. facilities in the first quarter. Moreover, unfavorable seasonality in the first quarter is expected to have resulted in lower sell-through of microinverters. These factors are likely to have hurt ENPH’s top-line performance in the quarter.
The Zacks Consensus Estimate for ENPH’s first-quarter revenues is pegged at $279.3 million, indicating a decline of 61.5% from the year-ago quarter’s level.
A weak top line may have dampened its overall bottom line in the first quarter of 2024. Also, macroeconomic factors like the transition from net energy metering (NEM) 2.0 to NEM 3.0 in California have been slow due to customers’ lack of confidence. This might have dented the company’s overall performance, thereby unfavorably impacting its earnings in the to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 43 cents per share, indicating a decline of 68.6% from the prior-year reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Enphase Energy this time around. The combination of a positive Earnings ESP and 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 0.00%. 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 from the same sector that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Nextracker Inc. (NXT - Free Report) currently has an Earnings ESP of +23.75% and a Zacks Rank #1. The Zacks Consensus Estimate for NXT’s first-quarter sales is pegged at $681.8 million, indicating an improvement of 31.5% from the year-ago quarter’s reported figure.
Estimates for NXT’s first-quarter earnings are pegged at 60 cents per share, indicating a 185.7% improvement from the prior-year quarter’s reported figure. The stock has a four-quarter earnings surprise of 56.26%, on average.
Canadian Solar (CSIQ - Free Report) currently has an Earnings ESP of +29.52% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter sales is pegged at $1.28 billion.
Estimates for CSIQ’s first-quarter loss are pegged at 26 cents per share. The stock has a four-quarter average earnings surprise of 56.24%.
CNX Resources (CNX - Free Report) currently has an Earnings ESP of +5.12% and a Zacks Rank #3. The Zacks Consensus Estimate for CNX’s first-quarter sales is pegged at $421.3 million, implying an improvement of 6.7% from the prior-year reported figure.
Estimates for CNX’s first-quarter earnings are pegged at 36 cents per share. The stock has a four-quarter average earnings surprise of 58.64%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.