Enphase Energy (ENPH) Stock Rockets On Earnings

Enphase Energy ENPH Stock News

Enphase Energy Inc (NASDAQ: ENPH) is having an incredibly strong start to the trading session this morning after the company announced earnings after hours yesterday. Strong growth in revenue in combination with an earnings beat is sending the stock up more than 26%. Here’s the scoop:

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ENPH Stock Heads Up On Financial Results

After reporting its financial results for the second quarter of 2019 in after-hours yesterday, Enphase Energy is making a run for the top in the market today. In the report, the company announced that not only did it beat analyst expectations with regard to earnings, revenue grew at a strong rate year over year.

In terms of earnings, analysts expected that ENPH would generate $0.13 per share in the second quarter. However, the company reported earnings in the amount of $0.18 per share, beating expectations by a wide margin. GAAP earnings came in at $0.08 per share, showing strong growth over last year’s loss at $0.04 per share.

Revenue also proved to be a big hit with ENPH reporting that it generated $134.1 million in the second quarter. Not only did this beat expectations of $121 million in revenue, revenue grew 76.7% year over year. In the same quarter last year, the company only generated $75.9 million in revenue.

From an operational perspective, the company delivered 416 megawatts DC during the quarter. While operational expenses climbed 19% year over year to $22.7 million, gross profit climbed 99.6% to $45.3 million.

The Bottom Line

The bottom line here is that no matter how you slice it, the second quarter proved to be an incredible one for Enphase Energy. The topline and bottom line figures grew. Moreover, the company executed well from an operational perspective, and while expenses are heading up, that’s to be expected in a growing company that is producing such impressive results. All in all, there’s a good reason for all of the excitement circling around ENPH stock today!

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