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Enphase Energy Q2 Earnings Match Estimates, Revenues Decline Y/Y
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Key Takeaways
Enphase Energy's adjusted EPS fell 33.3% to 46 cents, matching the consensus estimate.
Revenues declined 19.6% to $291.9 million, mainly due to weaker U.S. sales.
ENPH expects Q3 revenues of $290-$320 million and battery shipments of 130-150 MWh.
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.
Including one-time adjustments, the company posted GAAP earnings of 27 cents per share, down from 28 cents recorded in the year-ago quarter.
ENPH’s Revenues
Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.
The year-over-year plunge was mainly due to weaker sales in the United States.
Enphase Energy, Inc. Price, Consensus and EPS Surprise
The company’s adjusted gross margin decreased 180 basis points year over year to 46.8%.
Adjusted operating expenses rose 2.6% year over year to $79.8 million.
The adjusted operating income totaled $56.7 million, down 42.5% from the year-ago quarter.
Enphase Energy’s Shipments Gain Momentum
ENPH’s shipments amounted to approximately 1.59 million microinverters and 113.8 megawatt-hours (MWh) of Enphase IQ Batteries.
More than 25,000 installers worldwide were certified to install IQ Batteries at quarter-end, up from more than 24,000 in the preceding quarter.
Financial Details of ENPH
Enphase Energy had $529.3 million in cash and cash equivalents as of June 30, 2026 compared with $474.3 million as of Dec. 31, 2025.
The net cash flow from operating activities was $143.2 million during the first six months of 2026 compared with $75 million in the prior-year period.
Q3 2026 Guidance by Enphase Energy
For the third quarter of 2026, ENPH expects revenues in the range of $290-$320 million. The Zacks Consensus Estimate for third-quarter revenues is pegged at $315.9 million, which is at the higher end of the company’s guided range.
Enphase Energy expects to ship IQ batteries in the range of 130-150 MWh in the third quarter.
Adjusted operating expenses are expected between $76 million and $80 million. This excludes approximately $44 million estimated for stock-based compensation expenses, acquisition-related costs and amortization, as well as restructuring and asset impairment charges.
The adjusted gross margin is anticipated in the range of 44-47%, excluding stock-based compensation expenses and acquisition-related amortization.
First Solar, Inc. (FSLR - Free Report) is scheduled to report second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for FSLR’s earnings is pegged at $2.74 per share, which suggests a year-over-year decline of 13.8%.
The consensus estimate for sales stands at $1.06 billion, which indicates a fall of 3.3%.
SolarEdge Technologies (SEDG - Free Report) is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s earnings is pegged at 4 cents per share, which calls for a year-over-year surge of 104.9%.
The consensus estimate for sales is pegged at $341.7 million, which indicates an improvement of 18%.
Sunrun Inc. (RUN - Free Report) is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for RUN’s earnings is pegged at 8 cents per share, which suggests a year-over-year decline of 92.5%.
The consensus estimate for sales is pegged at $722.9 million, which calls for a jump of 27%.
View the Zacks #1 Rank List
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Enphase Energy Q2 Earnings Match Estimates, Revenues Decline Y/Y
Key Takeaways
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.
Including one-time adjustments, the company posted GAAP earnings of 27 cents per share, down from 28 cents recorded in the year-ago quarter.
ENPH’s Revenues
Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.
The year-over-year plunge was mainly due to weaker sales in the United States.
Enphase Energy, Inc. Price, Consensus and EPS Surprise
Enphase Energy, Inc. price-consensus-eps-surprise-chart | Enphase Energy, Inc. Quote
Enphase Energy’s Operational Update
The company’s adjusted gross margin decreased 180 basis points year over year to 46.8%.
Adjusted operating expenses rose 2.6% year over year to $79.8 million.
The adjusted operating income totaled $56.7 million, down 42.5% from the year-ago quarter.
Enphase Energy’s Shipments Gain Momentum
ENPH’s shipments amounted to approximately 1.59 million microinverters and 113.8 megawatt-hours (MWh) of Enphase IQ Batteries.
More than 25,000 installers worldwide were certified to install IQ Batteries at quarter-end, up from more than 24,000 in the preceding quarter.
Financial Details of ENPH
Enphase Energy had $529.3 million in cash and cash equivalents as of June 30, 2026 compared with $474.3 million as of Dec. 31, 2025.
The net cash flow from operating activities was $143.2 million during the first six months of 2026 compared with $75 million in the prior-year period.
Q3 2026 Guidance by Enphase Energy
For the third quarter of 2026, ENPH expects revenues in the range of $290-$320 million. The Zacks Consensus Estimate for third-quarter revenues is pegged at $315.9 million, which is at the higher end of the company’s guided range.
Enphase Energy expects to ship IQ batteries in the range of 130-150 MWh in the third quarter.
Adjusted operating expenses are expected between $76 million and $80 million. This excludes approximately $44 million estimated for stock-based compensation expenses, acquisition-related costs and amortization, as well as restructuring and asset impairment charges.
The adjusted gross margin is anticipated in the range of 44-47%, excluding stock-based compensation expenses and acquisition-related amortization.
ENPH’s Zacks Rank
Enphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Solar Releases
First Solar, Inc. (FSLR - Free Report) is scheduled to report second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for FSLR’s earnings is pegged at $2.74 per share, which suggests a year-over-year decline of 13.8%.
The consensus estimate for sales stands at $1.06 billion, which indicates a fall of 3.3%.
SolarEdge Technologies (SEDG - Free Report) is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s earnings is pegged at 4 cents per share, which calls for a year-over-year surge of 104.9%.
The consensus estimate for sales is pegged at $341.7 million, which indicates an improvement of 18%.
Sunrun Inc. (RUN - Free Report) is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for RUN’s earnings is pegged at 8 cents per share, which suggests a year-over-year decline of 92.5%.
The consensus estimate for sales is pegged at $722.9 million, which calls for a jump of 27%.