Enphase Energy slightly beats Q4 revenue expectations

Enphase Energy

03/02/2026 21:14

Overview

Energy technology firm's Q4 revenue slightly beat analyst expectations

Adjusted EPS for Q4 beat analyst expectations

Company's adjusted net income for Q4 beat analyst expectations

Outlook

Enphase Energy expects Q1 2026 revenue between $270 mln and $300 mln

Company anticipates Q1 2026 GAAP gross margin between 40% and 43%

Enphase Energy projects Q1 2026 non-GAAP gross margin between 42% and 45%

Result Drivers

U.S. DEMAND - Increased sell-through demand in the U.S. driven by solar and battery installations ahead of tax credit expiration

TARIFF IMPACT - Reciprocal tariffs negatively impacted non-GAAP gross margin by 5.1 percentage points

PRODUCT LAUNCHES - Launched IQ9N-3P microinverter and PowerMatch technology, enhancing product offerings

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Slight Beat*
$343.30 mln
$340.59 mln (24 Analysts)
Q4 Adjusted EPS
Beat
$0.71
$0.58 (22 Analysts)
Q4 EPS
$0.29
Q4 Adjusted Net Income
Beat
$93.40 mln
$82.30 mln (18 Analysts)
Q4 Net Income
$38.70 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 20 "hold" and 6 "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 $37.00, about 1.5% above its February 2 closing price of $36.47

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nGNXv7Dbg

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)