Enphase Energy Stock Rallies After Strong Q4 Results, Q1 Guidance Above Estimates

Enphase Energy, Inc. ENPH reported its fourth-quarter financial results after Tuesday's closing bell. Here's a look at the details from the report. 

The Details: Enphase Energy reported quarterly earnings of 94 cents per share, which beat the analyst consensus estimate of 72 cents. Quarterly revenue clocked in at $382.71 million, which beat the analyst consensus estimate of $377.6 million and is an increase over sales of $302.57 million from the same period last year.

Enphase said revenue in the U.S. increased approximately 6% compared to the third quarter due to higher microinverter sales. Revenue in Europe decreased by approximately 25% compared to the third quarter as the result of further softening in European demand.

The company shipped approximately 2.01 million microinverters, or 878.0 megawatts DC, and 152.4 megawatt hours of IQ Batteries. Non-GAAP gross margin was 53.2% for the quarter.

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Outlook: Enphase sees first-quarter revenue in a range of $340 million to $380 million, versus the $339.23 million estimate.

ENPH Price Action: According to data from Benzinga Pro, Enphase Energy shares are up 3.09% after hours at $68.50 on Tuesday.  

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Photo: Courtesy of Enphase Energy, Inc.