Is one of the fastest-growing elements of the clean energy revolution in danger? In a new report published this year, The Conference Board investigated this question, taking an in-depth look at the solar energy industry and the problems posed by growing overreliance on solar technology in the United States and beyond. Given the relatively low cost of solar energy, it makes sense that both individual households and entire companies would be drawn to it as a power source. The combination of solar's cost effec ...

FREMONT, Calif., May 15, 2024 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today the release of its 2023 Environmental, Social, and Governance (ESG) report, which provides an update on Enphase's ESG policies, initiatives, and performance. "We are pleased to share our progress in advancing a sustainable future for all," said Lisan Hung, senior vice president, general coun ...

Shares of PlugPower (PLUG) soared after the hydrogen technology company said it received a conditional Department of Energy (DoE) loan of up to $1.66 billion to add six new facilities. Monday's resurgence of the meme stock craze of early 2021 continued, with shares of AMC Entertainment (AMC) skyrocketing as the movie theater chain completed its $250 million stock sale. Shares of another meme favorite, GameStop (GME), also soared. Key Takeaways The Dow, S&P 500, and Nasdaq were little changed at midday after ...

Did residential solar just turn back to growth?In this video, Motley Fool contributors Jason Hall and Tyler Crowe break down recent financial results from SolarEdge (SEDG -6.08%) and Enphase Energy (ENPH -2.50%), and discuss whether they're worth buying now. Also discussed: First Solar (FSLR -1.32%) and Canadian Solar (CSIQ -9.14%).*Stock prices used were from the afternoon of May 10, 2024. The video was published on May 10, 2024. ...

Key PointsAs the first quarter earnings season 2024 gets underway, analysts see fit to boost some stocks that performed well during the period. Three stocks stand out. They all have strong fundamental tailwinds behind them, causing analysts to consider their roles in the coming cycle. EPS projections and price targets suggest double-digit upside opportunities for investors to take advantage of this quarter. 5 stocks we like better than Mizuho Financial GroupWall Street analysts reconsider their views on spe ...

Enphase stock is down 20% this year. Is the stock a buy right now?In this video, I will go over Enphase's (ENPH -5.56%) first-quarter earnings and explain why the stock is down.*Stock prices used were from the trading day of April 24, 2024. The video was published on April 24, 2024. ...

Enphase Energy Inc (NASDAQ:ENPH) stock has reversed its sharp premarket losses, up 2.6% to trade at $116.48. The alternative energy company's first-quarter results and second-quarter revenue forecast came in below estimates, initially dragging the solar sector as a whole today. Jefferies downgraded ENPH to "hold" from "buy," while a flood of other analysts chimed in with mixed price-target adjustments. Meanwhile, a coalition of six solar manufacturers are petitioning the U.S. to impose tariffs on imports fr ...

Enphase Energy, Inc. (ENPH) reported first-quarter 2024 adjusted earnings of 35 cents per share, highlighting a 74.5% decline from $1.37 reported in the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of 42 cents per share by 16.7%.Including one-time adjustments, the company posted a GAAP loss of 12 cents per share, which significantly deteriorated from the year-ago quarter’s earnings of $1.02.RevenuesEnphase Energy’s first-quarter revenues of $263.3 million missed the Zacks Con ...

Key TakeawaysEnphase Energy shares slumped more than 8% in premarket trading Wednesday after the solar solutions maker missed analysts' Q1 earnings and sales estimates, and issued a soft current-quarter sales outlook.The company said a further softening of the U.S. solar market, along with seasonality factors and a reduction in shipping, weighed on revenue in the quarter.A close below last week's low at $105.61 could see a continuation of the long-term downtrend in Enphase shares. Enphase Energy (ENPH) rele ...

Financial Data and Key Metrics Changes - The company reported quarterly revenue of $263.3 million, a decrease from the previous quarter, with a gross margin of 46% and operating income of 15% on a non-GAAP basis [27][56] - Non-GAAP net income for Q1 was $48 million, down from $73.5 million in Q4, resulting in non-GAAP diluted earnings per share of $0.35 compared to $0.54 in Q4 [56][80] - GAAP net loss for Q1 was $16.1 million, compared to a net income of $20.9 million in Q4, leading to a GAAP diluted loss per share of $0.12 [56][80] Business Line Data and Key Metrics Changes - Approximately 1.4 million microinverters and 75.5 megawatt hours of batteries were shipped in Q1, with a focus on reducing channel inventory by $113 million [27][28] - The company shipped about 506,000 microinverters from US manufacturing facilities that qualified for 45X production tax credits [28] - The sell-through of microinverters and batteries in the US was down 23% in Q1 compared to Q4, with California experiencing a 30% decline [29][44] Market Data and Key Metrics Changes - In non-California states, overall sell-through was down 21% in Q1 compared to Q4, while in California, sell-through of microinverters was down 37% and batteries down 18% [29][44] - In the Netherlands, sell-through was down 4% compared to Q4, but demand signals improved following government support for net metering [30] - The company reported a 70% sequential revenue increase in Europe, with sell-through of microinverters up 3% and batteries up 28% in Q1 [45] Company Strategy and Development Direction - The company plans to increase battery manufacturing capability in the US during Q3 2024 and is focused on operational excellence, reducing operating expenses, and maintaining healthy gross margins [28][37] - The introduction of new products, including the IQ8 Microinverters and IQ Batteries, is part of the strategy to expand market share in Europe and Asia [34][45] - The company is optimistic about the long-term potential of NEM 3.0 systems, which have a high battery attach rate and are expected to stabilize California revenue [73][77] Management's Comments on Operating Environment and Future Outlook - Management indicated that Q1 was the bottom quarter, with expectations for recovery in Q2 driven by improved demand in Europe and non-California states [68][77] - The company is cautiously optimistic about the future, noting that installers are adapting to NEM 3.0 and that financing options are becoming more available [32][123] - Management highlighted the importance of maintaining profitability and free cash flow while navigating through market challenges [52][83] Other Important Information - The company repurchased 332,735 shares at an average price of $126.21 per share, totaling approximately $42 million in Q1 [57] - Capital expenditures were reduced to $7.4 million in Q1 from $20.1 million in Q4 due to decreased US manufacturing spending [58] - The company expects GAAP gross margin to be in the range of 42% to 45% for Q2, with non-GAAP gross margin expected to be between 44% and 47% [59][84] Q&A Session Summary Question: Can you discuss the under-shipment in Q1 and the expected normalized demand? - Management acknowledged under-shipping due to softer demand and indicated that normalized demand is expected to be around $490 million after accounting for inventory adjustments [65][93] Question: What are the dynamics around pricing and discounts as inventory is cleared? - Management emphasized discipline in pricing and indicated that the average selling price (ASP) variance is primarily due to product mix rather than price drops [64][90] Question: How is the company forecasting sell-through for Q2? - Management noted that sell-through demand is expected to increase to $400 million in Q2, reflecting improved conditions in various markets [68][93] Question: What is the outlook for new markets and energy storage? - Management expressed confidence in the growth of energy storage and the transition to solar plus storage in new markets, particularly in Europe [89][120]