Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance

By Zacks Investment ResearchStock MarketsFeb 28, 2018 10:13PM ET

www.investing.com/analysis/enphase-energy-enph-q4-earnings-beat-issues-guidance-200295379

Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance

By Zacks Investment Research | Feb 28, 2018 10:13PM ET

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Enphase Energy Inc. (NASDAQ:ENPH) delivered fourth-quarter 2017 adjusted earnings of 1 cent per share, which compares favorably with the Zacks Consensus Estimate of breakeven earnings. The profit figure also improved from the prior-year quarter’s adjusted loss of 15 cents per share.

On a GAAP basis, Enphase Energy reported loss of 3 cents per share, better than a loss of 21 cents a year ago.

For 2017, the company reported adjusted loss of 25 cents per share, narrower than the Zacks Consensus Estimated loss of 26 cents. In 2016, the company reported a loss of $1.04 per share.

Enphase Energy, Inc. Price, Consensus and EPS Surprise

Enphase Energy, Inc. Price, Consensus and EPS Surprise | Enphase Energy, Inc. Quote

Revenues

Revenues of $79.7 million in the quarter, beat the Zacks Consensus Estimate of $76 million by 4.9%. However, revenues declined 12.1% from the year-ago figure of $91 million.

In 2017, the company generated revenues worth $286.2 million that surpassed the Zacks Consensus Estimate of $282.4 million by 1.3%. However, revenues dropped 11.3% from the year-ago figure of $322.6 million.

Operational Highlights

Gross profit in the reported quarter was $19 million, up 16.9% from $16.2 million a year ago.

Total operating expenses amounted to $21.1 million, down 19.8% compared with year ago.

Operating earnings in the quarter reported loss of $2.1 million, narrower than a loss of $10.1 million in the year-ago quarter.

Financial Performance

Enphase Energy had $29.1 million of cash and cash equivalents as of Dec 31, 2017, up from $17.8 million at the end of 2016.

Long-term debt was $32.3 million at the end of 2017, compared with $20.8 million at 2016-end.

Guidance

Enphase Energy estimated revenue guidance for first-quarter of 2018 to be in the range of $65-$70 million. The company also provided operating expenses guidance to be in the range of $17.5-$185 million.

Upcoming Peer Releases

Canadian Solar Inc. (NASDAQ:CSIQ) is expected to release fourth-quarter 2017 earnings on Mar 20. Earnings matched the Zacks Consensus Estimate in the last quarter.

JA Solar Holdings, Co., Ltd. (NASDAQ:JASO) is expected to release fourth-quarter 2017 earnings on Mar 15. Earnings missed the Zacks Consensus Estimate by 27.8% in the last quarter.

Sunrun, Inc. (NASDAQ:RUN) expected to release fourth-quarter 2017 earnings on March 6. Earnings beat the Zacks Consensus Estimate by 78.6% in the last quarter.

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Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance

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