Enphase Energy Inc ENPH shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results and issued guidance above analyst estimates.
Enphase said first-quarter revenue increased 7% year-over-year to $441.3 million, which beat the $432.1 million estimate. The company reported quarterly adjusted earnings of 79 cents per share, which beat the estimate of 66 cents per share, according to data from Benzinga Pro.
Enphase said it expects second-quarter revenue to be between $490 million and $520 million versus the $474.55 million estimate.
Enphase is a global energy technology company that supplies microinverter-based solar and battery systems that enable people to harness the sun to make, use, save and sell their own power.
ENPH 52-Week Range: $108.88 - $282.46
The stock was up 6.3% in after hours at $163.50 at press time.
Photo: courtesy of Enphase Energy.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
