Enphase Energy develops and manufactures solar micro-inverters, battery energy storage, and EV charging stations for residential customers. However, today the only thing it produced was losses for its shareholders. đŦ
The company reported adjusted earnings per share of $1.47, which topped the $1.28 expected. Revenues fell short, though, at $711.1 million vs. the $726 million consensus view. đģ
Executives expect third-quarter revenues of $555 to $600 million. That was well shy of the $749 million Wall Street expected.
The revenue miss and weak guidance were enough to send $ENPH shares down another 13% after hours. đ
Meanwhile, competitor First Solar jumped after beating both revenue and earnings expectations. $FSLR shares jumped 8% toward the 15-year highs set earlier this year. đ