Enphase Energy (ENPH) Q4 Earnings Beat, Issues Guidance
Enphase Energy Inc. ENPH delivered fourth-quarter 2017 adjusted earnings of 1 cent per share, which compares favorably with the Zacks Consensus Estimate of breakeven earnings. The profit figure also improved from the prior-year quarter’s adjusted loss of 15 cents per share.
On a GAAP basis, Enphase Energy reported loss of 3 cents per share, better than a loss of 21 cents a year ago.
For 2017, the company reported adjusted loss of 25 cents per share, narrower than the Zacks Consensus Estimated loss of 26 cents. In 2016, the company reported a loss of $1.04 per share.
Enphase Energy, Inc. Price, Consensus and EPS Surprise
Enphase Energy, Inc. Price, Consensus and EPS Surprise | Enphase Energy, Inc. Quote
Revenues
Revenues of $79.7 million in the quarter, beat the Zacks Consensus Estimate of $76 million by 4.9%. However, revenues declined 12.1% from the year-ago figure of $91 million.
In 2017, the company generated revenues worth $286.2 million that surpassed the Zacks Consensus Estimate of $282.4 million by 1.3%. However, revenues dropped 11.3% from the year-ago figure of $322.6 million.
Operational Highlights
Gross profit in the reported quarter was $19 million, up 16.9% from $16.2 million a year ago.
Total operating expenses amounted to $21.1 million, down 19.8% compared with year ago.
Operating earnings in the quarter reported loss of $2.1 million, narrower than a loss of $10.1 million in the year-ago quarter.
Financial Performance
Enphase Energy had $29.1 million of cash and cash equivalents as of Dec 31, 2017, up from $17.8 million at the end of 2016.
Long-term debt was $32.3 million at the end of 2017, compared with $20.8 million at 2016-end.
Guidance
Enphase Energy estimated revenue guidance for first-quarter of 2018 to be in the range of $65-$70 million. The company also provided operating expenses guidance to be in the range of $17.5-$185 million.
Upcoming Peer Releases
Canadian Solar Inc. CSIQ is expected to release fourth-quarter 2017 earnings on Mar 20. Earnings matched the Zacks Consensus Estimate in the last quarter.
JA Solar Holdings, Co., Ltd. JASO is expected to release fourth-quarter 2017 earnings on Mar 15. Earnings missed the Zacks Consensus Estimate by 27.8% in the last quarter.
Sunrun, Inc. RUN expected to release fourth-quarter 2017 earnings on March 6. Earnings beat the Zacks Consensus Estimate by 78.6% in the last quarter.
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