Enphase Energy Q3 revenue beats estimates on higher US demand

Enphase Energy

28/10/2025 20:15

Overview

Enphase Q3 revenue of $410.4 mln beats analyst expectations, highest in two years

Adjusted EPS for Q3 beats consensus at $0.90

Company's U.S. revenue increased 29% from Q2, driven by higher demand

Outlook

Company expects Q4 2025 revenue between $310 mln and $350 mln

Enphase sees Q4 2025 GAAP gross margin between 40% and 43%

Company projects Q4 2025 non-GAAP gross margin between 42% and 45%

Result Drivers

U.S. DEMAND - Revenue in the U.S. increased by 29% from Q2, driven by higher demand and safe harbor revenue

EUROPEAN DECLINE - Revenue in Europe decreased by 38% due to softening demand

TARIFF IMPACT - Reciprocal tariffs negatively impacted margins by 4.9 percentage points

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$410.40 mln
$366.43 mln (24 Analysts)
Q3 Adjusted EPS
Beat
$0.90
$0.64 (23 Analysts)
Q3 EPS
$0.50
Q3 Adjusted Net Income
Beat
$117.30 mln
$88.81 mln (19 Analysts)
Q3 Net Income
$66.59 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 11 "strong buy" or "buy", 16 "hold" and 9 "sell" or "strong sell"

The average consensus recommendation for the renewable energy equipment & services peer group is "buy."

Wall Street's median 12-month price target for Enphase Energy Inc is $40.00, about 8% above its October 27 closing price of $36.81

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX1V0HlT

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)