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Enphase Energy reported a disappointing first quarter for 2024, missing earnings per share estimates by $0.06 and revenue forecasts, leading to a 10% drop in after-hours trading. The company also provided Q2 revenue guidance below consensus. The broader solar sector is experiencing downturns, with significant stock declines in other major solar companies such as SunPower and SolarEdge, which was down 5% after earnings.
Enphase’s stock slumps as outlook miss reflects solar’s ongoing struggles https://t.co/dvaj3KEJ2T
Solar in Trouble... No sugar coating the situation. $ENPH $NOVA $RUN $SPWR 👇 https://t.co/mMt219iM2i
🚨 $ENPH CEO is spewing platitudes about his Company. On the 10-K $ENPH said, " We expect demand slowdown to have an adverse effect on our revenue in 2024." Watch for earnings trigger words: 1. Normalizing 2. Bottom is here, and 2H 2024 will normalize 3. "Under shipping" is a…
