Enphase Energy (ENPH) Q4 Earnings Beat, Revenues Up Y/Y
Zacks Investment Research | Feb 18, 2020 09:25PM ET
Enphase Energy, Inc. (NASDAQ:ENPH) reported fourth-quarter 2019 adjusted earnings of 39 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 18.2%. The bottom line also surged a massive 875% from 4 cents reported in the prior-year quarter.
The year-over-year uptick can be attributed to solid revenues and operating income growth in the fourth quarter.
Barring one-time adjustments, the company posted GAAP earnings of 88 cents per share compared with just a cent in the year-ago quarter.
For 2019, the company reported adjusted earnings of 95 cents per share, beating the Zacks Consensus Estimate of 89 cents. The company reported adjusted earnings of 10 cents per share in the prior year.
Revenues
Enphase Energy’s revenues of $210 million in the fourth quarter surpassed the Zacks Consensus Estimate of $204.8 million by 2.5%. The top line soared 119.8% from the year-ago quarter’s $92.3 million, driven by solid shipments.
For 2019, the company recorded adjusted revenues of $624.3 million, exceeding the Zacks Consensus Estimate of $619.1 million by 0.8%. Moreover, the top line jumped 97.5% from last year’s $316.2 million.
Operational Highlights
Enphase Energy’s total shipments during the reported quarter amounted to approximately 677 megawatts DC or 2,112,725 microinverters.
Gross profit totaled $77.9 million, soaring 176.5% from $28.2 million a year ago.
Total operating expenses increased 44.4% year over year to $33.4 million. This can be attributed to higher research and development, sales and marketing, and general and administrative expenses.
Operating income during the quarter totaled $44.4 million compared with $5 million in the year-ago quarter.
Enphase Energy, Inc. Price, Consensus and EPS Surprise
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