Why Enphase Plunged On A Day When the Markets Surged
Shares of solar inverter leader Enphase Energy (NASDAQ: ENPH) plunged on Tuesday, down 14.2% as of 12:11 PM EDT, which was all the more notable as the Nasdaq Composite was up by a big 2.6% at that time.Enphase not only missed analyst estimates for the quarter, but also guided below estimates for the current second quarter. Moreover, tariffs threaten the company's margins later in the year.In the first quarter, Enphase reported 35.2% revenue growth to $356.1 million, along with adjusted (non-GAAP) earnings per share of $0.68, which was nearly double the year-ago earnings figure.Continue reading
Shares of solar inverter leader Enphase Energy (NASDAQ: ENPH) plunged on Tuesday, down 14.2% as of 12:11 PM EDT, which was all the more notable as the Nasdaq Composite was up by a big 2.6% at that time.
Enphase not only missed analyst estimates for the quarter, but also guided below estimates for the current second quarter. Moreover, tariffs threaten the company's margins later in the year.
In the first quarter, Enphase reported 35.2% revenue growth to $356.1 million, along with adjusted (non-GAAP) earnings per share of $0.68, which was nearly double the year-ago earnings figure.
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