Home energy technology company Enphase (NASDAQ: ENPH) will be reporting results this Tuesday afternoon. Here’s what to look for.
Enphase missed analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $356.1 million, up 35.2% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is Enphase a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Enphase’s revenue to grow 18% year on year to $358.1 million, a reversal from the 57.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.62 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Enphase’s peers in the electrical equipment segment, only Acuity Brands has reported results so far. It beat analysts’ revenue estimates by 3.1%, delivering year-on-year sales growth of 21.7%. The stock traded up 5.8% on the results.
Read our full analysis of Acuity Brands’s earnings results here.There has been positive sentiment among investors in the electrical equipment segment, with share prices up 6.5% on average over the last month. Enphase is up 14.6% during the same time and is heading into earnings with an average analyst price target of $48.37 (compared to the current share price of $39.59).
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