The earnings call presented a mixed outlook. While there was strong revenue growth in the U.S. and promising new product launches, significant challenges were highlighted in the European market and from a major U.S. customer bankruptcy. The company remains optimistic about future growth driven by market conditions and product innovations.

Company Guidance

In the third quarter of 2024 earnings call for Enphase Energy (ENPH), the company reported a revenue of $380.9 million, shipping approximately 1.7 million microinverters and 172.9 megawatt-hours of batteries. They achieved a non-GAAP gross margin of 48% and generated a free cash flow of $161.6 million, with a worldwide Net Promoter Score of 78%. The company maintained a U.S. and international revenue mix of 75% and 25%, respectively. Looking forward, Enphase provided guidance for Q4 with anticipated revenue between $360 million to $400 million and expected shipments of 140-160 megawatt-hours of IQ batteries. Despite challenges in Europe and the bankruptcy of a large U.S. customer, Enphase remains optimistic about growth drivers in 2025, including lower interest rates, ITC adders, and higher power prices.

Record Revenue Growth in the U.S.

U.S. revenue increased 43% quarter-over-quarter, with a 13% increase in distributor sell-through reflecting improved market fundamentals.

Strong Cash Flow and Gross Margin

Generated free cash flow of $161.6 million and reported a non-GAAP gross margin of 48.1% in Q3 2024.

New Product Launches and Innovations

Introduced higher domestic content SKU for IQ8HC microinverters, strong traction for domestic content ITC adder, and plans to launch IQ9 microinverters and fourth-generation batteries.

Positive Outlook for U.S. Market in 2025

Expecting growth driven by lower interest rates, ITC adders, and higher utility prices.

---

Enphase Energy (ENPH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

ENPH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 11, 2025	2024 (Q4)	0.75 / -	0.54	―	―	―
Oct 22, 2024	2024 (Q3)	0.78 / 0.65	1.02	-36.27% (-0.37)	―
Jul 23, 2024	2024 (Q2)	0.49 / 0.43	1.47	-70.75% (-1.04)	―
Apr 23, 2024	2024 (Q1)	0.41 / 0.35	1.37	-74.45% (-1.02)	―
Feb 06, 2024	2023 (Q4)	0.55 / 0.54	1.51	-64.24% (-0.97)	―
Oct 26, 2023	2023 (Q3)	1.01 / 1.02	1.25	-18.40% (-0.23)	―
Jul 27, 2023	2023 (Q2)	1.28 / 1.47	1.07	37.38% (+0.40)	―
Apr 25, 2023	2023 (Q1)	1.23 / 1.37	0.79	73.42% (+0.58)	―
Feb 07, 2023	2022 (Q4)	1.27 / 1.51	0.73	106.85% (+0.78)	―
Oct 25, 2022	2022 (Q3)	1.09 / 1.25	0.6	108.33% (+0.65)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

ENPH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 22, 2024	$92.23	$78.47	-14.92%
Jul 23, 2024	$103.64	$116.91	+12.80%
Apr 23, 2024	$113.48	$107.17	-5.56%
Feb 06, 2024	$100.51	$117.51	+16.91%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---