Enphase Energy slips after announcing job cuts, restructuring plans

Enphase Energy

26/01/2026 12:41

** Enphase Energy ENPH.O shares down 2% premarket to $38.66 after solar inverter maker announced job cuts as part of broader restructuring

** ENPH said late Fri it will cut roughly 160 jobs, about 6% of its workforce, and move certain functions to lower-cost regions as part of a plan to streamline operations and improve profitability

** In a letter to employees, CEO Badri Kothandaraman pointed to the impact of the federal 25D residential clean energy tax credit ending on Dec 31, which had provided a 30% credit for solar and other renewable energy systems

** "We are aligning our cost structure to match current market conditions while staying disciplined against our financial operating model," Kothandaraman said

** In Oct, ENPH issued a Q4 rev outlook below Wall Street expectations, citing negative effect from tariffs on its margins

** Through Fri close, ENPH shares gained 23% to start 2026. Stock lost 53% last year

** Of 36 analysts covering the stock, recommendation breakdown is 10 "strong buy" or "buy", 20 "hold" and 6 "sell" ratings; median PT $37, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))