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Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance
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Enphase Energy Inc. (ENPH - Free Report) 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
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 - Free Report) 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. 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 - Free Report) expected to release fourth-quarter 2017 earnings on March 6. Earnings beat the Zacks Consensus Estimate by 78.6% in the last quarter.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance
Enphase Energy Inc. (ENPH - Free Report) 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 - Free Report) 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. 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 - Free Report) expected to release fourth-quarter 2017 earnings on March 6. Earnings beat the Zacks Consensus Estimate by 78.6% in the last quarter.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>