Enphase Energy Inc. reported second-quarter 2025 earnings that exceeded analyst expectations, with adjusted earnings per share (EPS) of $0.69 compared to the estimated $0.62 and revenue of $363.2 million versus the $359.6 million forecast. The company posted adjusted net income of $89.9 million, surpassing the $84.1 million estimate, representing year-over-year increases of 60% in adjusted EPS and 53% in adjusted net income. Gross margin stood at 48.6% including the Inflation Reduction Act (IRA) benefits, or 37.2% excluding IRA. However, shares declined in after-hours trading due to a cautious third-quarter revenue guidance range of $330 million to $370 million, which was below analyst expectations. Enphase also reported record IQ Battery shipments of 190.9 MWh and noted strong U.S. manufacturing momentum. Meanwhile, PG&E Corporation narrowly missed second-quarter profit estimates with adjusted EPS of $0.31 against an estimated $0.34 and revenue of $5.9 billion below the $6.26 billion forecast, impacted by higher operating and maintenance costs. PG&E's net income was $521 million, and the company submitted its smallest rate case hike in a decade. First Solar Inc. posted second-quarter 2025 results with net sales of $1.1 billion, surpassing estimates, and net income per diluted share of $3.18 versus the $2.62 estimate. The company reported net income of $341.9 million and operating income of $361.6 million. First Solar maintained its midpoint full-year net income guidance and updated its 2025 sales guidance to a range of $4.9 billion to $5.7 billion, above the $5.07 billion consensus, with projected EPS between $13.50 and $16.50.