Enphase Energy (ENPH) Posts Strong Q3 Results While Europe Demand Softens and Q4 Guidance Falls

Enphase Energy Inc. (NASDAQ:ENPH) ranks among the best sustainability stocks to invest in. Enphase Energy Inc. (NASDAQ:ENPH) reported third-quarter results on October 28 that came in higher than analysts predicted, while its fourth-quarter revenue guidance turned out lower than expected.

The company’s third-quarter adjusted earnings per share of $0.90 greatly exceeded the $0.64 analyst expectation. Meanwhile, its revenue hit $410.4 million, the highest figure in two years, and exceeded the average forecast of $365.43 million.

Although Enphase’s quarterly performance was solid, the market reacted negatively when its fourth-quarter revenue projection of $310–350 million fell short of the $385.8 million analysts had anticipated. Management cited weakening demand in Europe, which has historically been a growth engine for solar and battery manufacturers. The guidance also implies that operational expenses would remain high, at $77 million to $81 million.

That said, the company also announced a number of upcoming product launches in the fourth quarter, including the IQ9N-3P Commercial Microinverter, IQ EV Charger 2, and IQ Battery 5P with FlexPhase.

Enphase Energy Inc. (NASDAQ:ENPH) designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the US and internationally.

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Disclosure: None. This article is originally published at Insider Monkey.