Enphase Exceeds Q4 Revenue and EPS Expectations Due to US Market Demand

07 Feb 2025 CW Team

In the US, revenue grew by approximately 6 per cent sequentially, driven by increased microinverter sales, while European revenue declined by 25 per cent due to weakening regional demand. The company’s revenue distribution for the quarter stood at 79 per cent from the US and 21 per cent from international markets.

The growth in US revenue was primarily attributed to an 11 per cent increase in microinverter sales, supported by strong demand for higher domestic content microinverters. However, battery sales experienced an 8 per cent decline due to lower channel restocking. Overall, product sell-through remained flat compared to Q3.

Enphase Energy reported an earnings per share (EPS) of $0.94, exceeding expectations by $0.19. Net income for the quarter rose to $125.86 million, reflecting a 71 per cent Y-o-Y increase from $73.47 million in the same period the previous year.

The company shipped 152.4 MWh of its IQ Batteries in Q4, representing a 13.4 per cent Y-o-Y decline from 172.9 MWh in Q3. Additionally, 1.69 million microinverters were shipped from its U.S. contract manufacturing facilities during the quarter, benefiting from 45X production tax credits. The company also enhanced its domestic content product offerings to align with evolving regulatory requirements.

For the full year 2024, Enphase Energy reported total revenue of $1.33 billion, a 72 per cent decline from $2.29 billion in 2023. The EPS for the year stood at $2.37, down from $4.41 in 2023, while net income declined by 48 per cent Y-o-Y to $321.04 million from $613.24 million. Despite these declines, the company maintained strong profitability and free cash flow while continuing investments in new product development and the expansion of its domestic manufacturing footprint.

The company is closely monitoring developments related to anti-dumping and countervailing duty investigations on active anode material from China. It has implemented strategies to ensure geographic diversification in its supply chain for both microinverters and battery solutions to mitigate potential regulatory impacts.

Looking ahead to Q1 2025, Enphase Energy remains focused on sustaining profitability, optimising its supply chain, and expanding its market presence.

News source: Mercom India

Enphase Energy, a supplier of microinverters and battery storage solutions, reported total revenue of $382.71 million for the fourth quarter (Q4) of 2024, marking a 26.5 per cent year-over-year (Y-o-Y) increase. The revenue surpassed analyst expectations by $5.21 million. In the US, revenue grew by approximately 6 per cent sequentially, driven by increased microinverter sales, while European revenue declined by 25 per cent due to weakening regional demand. The company’s revenue distribution for the quarter stood at 79 per cent from the US and 21 per cent from international markets. The growth in US revenue was primarily attributed to an 11 per cent increase in microinverter sales, supported by strong demand for higher domestic content microinverters. However, battery sales experienced an 8 per cent decline due to lower channel restocking. Overall, product sell-through remained flat compared to Q3. Enphase Energy reported an earnings per share (EPS) of $0.94, exceeding expectations by $0.19. Net income for the quarter rose to $125.86 million, reflecting a 71 per cent Y-o-Y increase from $73.47 million in the same period the previous year. The company shipped 152.4 MWh of its IQ Batteries in Q4, representing a 13.4 per cent Y-o-Y decline from 172.9 MWh in Q3. Additionally, 1.69 million microinverters were shipped from its U.S. contract manufacturing facilities during the quarter, benefiting from 45X production tax credits. The company also enhanced its domestic content product offerings to align with evolving regulatory requirements. For the full year 2024, Enphase Energy reported total revenue of $1.33 billion, a 72 per cent decline from $2.29 billion in 2023. The EPS for the year stood at $2.37, down from $4.41 in 2023, while net income declined by 48 per cent Y-o-Y to $321.04 million from $613.24 million. Despite these declines, the company maintained strong profitability and free cash flow while continuing investments in new product development and the expansion of its domestic manufacturing footprint. The company is closely monitoring developments related to anti-dumping and countervailing duty investigations on active anode material from China. It has implemented strategies to ensure geographic diversification in its supply chain for both microinverters and battery solutions to mitigate potential regulatory impacts. Looking ahead to Q1 2025, Enphase Energy remains focused on sustaining profitability, optimising its supply chain, and expanding its market presence. News source: Mercom India

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