Enphase stock rallies 8% after Q4 earnings blow past expectations, guidance

Enphase Energy Inc.
ENPH,
+2.45%
share jumped more than 7% in the extended session Tuesday after the maker of inverters for solar-power systems reported fourth-quarter earnings that topped Wall Street views. Enphase earned $153.8 million, or $1.06 a share, in the quarter, compared with $115 million, or 80 cents a share, in the year-ago period. Adjusted for one-time items, it earned $1.51 a share. Revenue was a “record” $725 million, from $635 million, the company said. Analysts polled by FactSet expected Enphase to report adjusted earnings of $1.27 a share on sales of $707 million. Enphase guided for first-quarter 2023 revenue between $700 million and $740 million, also well above FactSet consensus of revenue around $685 million in the quarter. Enphase shares ended the regular trading day up 2.5%.