Enphase Energy Q1 EPS Tops Estimates, Revenue Falls 28.6%, Shares Drop 8.4%
Enphase Energy reported Q1 adjusted EPS of $0.47, beating estimates while revenue fell 28.6% year-over-year to $282.9 million, missing analyst forecasts. Shares slid 8.4% to $31.43 following four analyst price-target cuts and heavy options volume with 20.7% of float sold short, highlighting potential volatility.
1. Q1 Earnings and Revenue Miss
Enphase Energy reported adjusted earnings of $0.47 per share for Q1, surpassing consensus forecasts, while quarterly revenue declined 28.6% year-over-year to $282.9 million due to weaker demand in its core U.S. market.
2. Share Price Reaction and Technicals
Shares dropped 8.4% to close at $31.43, marking the largest single-day decline since February, though a support level near $31 has limited further losses and kept the stock at its year-to-date breakeven point.
3. Analyst Price-Target Cuts and Options Activity
Four analysts reduced their price targets following the results, including a cut from $68 to $57, and options volume surged with 15,000 calls and 5,519 puts traded, underscoring elevated market interest and positioning.
4. Q2 Revenue Guidance
Management provided second-quarter revenue guidance of $280 million to $310 million, indicating expectations of relative stability after the first-quarter downturn and setting a baseline for the next reporting period.