Enphase Energy Delivers Strong EPS Beat
Enphase Energy reported better-than-expected fourth-quarter results amid growth in the U.S. market.
Enphase Energy (NASDAQ:ENPH), a leader in microinverter technology, released its earnings for the fourth quarter on Feb. 4. The company reported strong financial results, with non-GAAP earnings per share (EPS) of $0.94 significantly outpacing analyst estimates of $0.73. Total revenue also exceeded expectations, coming in at $382.7 million compared to an estimated $377 million. The results reflected an improved performance in the U.S. market, though challenges remained in Europe.
Source: Analysts' estimates provided by FactSet.
Founded in 2006, Enphase Energy specializes in solar energy products. Its core offering is the semiconductor-based microinverter, which increases the energy conversion efficiency of solar power systems. The advantages of its technology position Enphase favorably against makers of traditional string inverter systems.
