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Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance

Enphase Energy Inc.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. 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. 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. 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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