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Enphase Earnings Calls
| Release date | Apr 28, 2026 |
| EPS estimate | $0.430 |
| EPS actual | $0.470 |
| EPS Surprise | 9.30% |
| Revenue estimate | 282.275M |
| Revenue actual | 282.9M |
| Revenue Surprise | 0.221% |
| Release date | Feb 03, 2026 |
| EPS estimate | $0.540 |
| EPS actual | $0.710 |
| EPS Surprise | 31.48% |
| Revenue estimate | 338.438M |
| Revenue actual | 343.321M |
| Revenue Surprise | 1.44% |
| Release date | Oct 28, 2025 |
| EPS estimate | $0.620 |
| EPS actual | $0.90 |
| EPS Surprise | 45.16% |
| Revenue estimate | 338.599M |
| Revenue actual | 410.427M |
| Revenue Surprise | 21.21% |
| Release date | Jul 22, 2025 |
| EPS estimate | $0.620 |
| EPS actual | $0.690 |
| EPS Surprise | 11.29% |
| Revenue estimate | 368.354M |
| Revenue actual | 363.153M |
| Revenue Surprise | -1.41% |
Last 4 Quarters for Enphase
Below you can see how ENPH performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Jul 22, 2025 |
| Price on release | $42.50 |
| EPS estimate | $0.620 |
| EPS actual | $0.690 |
| EPS surprise | 11.29% |
| Date | Price |
|---|---|
| Jul 16, 2025 | $39.03 |
| Jul 17, 2025 | $38.74 |
| Jul 18, 2025 | $39.58 |
| Jul 21, 2025 | $39.66 |
| Jul 22, 2025 | $42.50 |
| Jul 23, 2025 | $36.48 |
| Jul 24, 2025 | $35.52 |
| Jul 25, 2025 | $35.41 |
| Jul 28, 2025 | $34.95 |
| 4 days before | 8.89% |
| 4 days after | -17.76% |
| On release day | -14.16% |
| Change in period | -10.45% |
| Release date | Oct 28, 2025 |
| Price on release | $36.70 |
| EPS estimate | $0.620 |
| EPS actual | $0.90 |
| EPS surprise | 45.16% |
| Date | Price |
|---|---|
| Oct 22, 2025 | $36.08 |
| Oct 23, 2025 | $35.64 |
| Oct 24, 2025 | $36.23 |
| Oct 27, 2025 | $36.81 |
| Oct 28, 2025 | $36.70 |
| Oct 29, 2025 | $31.14 |
| Oct 30, 2025 | $30.13 |
| Oct 31, 2025 | $30.51 |
| Nov 03, 2025 | $29.51 |
| 4 days before | 1.72% |
| 4 days after | -19.59% |
| On release day | -15.15% |
| Change in period | -18.21% |
| Release date | Feb 03, 2026 |
| Price on release | $37.28 |
| EPS estimate | $0.540 |
| EPS actual | $0.710 |
| EPS surprise | 31.48% |
| Date | Price |
|---|---|
| Jan 28, 2026 | $40.47 |
| Jan 29, 2026 | $38.25 |
| Jan 30, 2026 | $36.98 |
| Feb 02, 2026 | $36.47 |
| Feb 03, 2026 | $37.28 |
| Feb 04, 2026 | $51.67 |
| Feb 05, 2026 | $47.27 |
| Feb 06, 2026 | $49.80 |
| Feb 09, 2026 | $50.30 |
| 4 days before | -7.88% |
| 4 days after | 34.92% |
| On release day | 38.60% |
| Change in period | 24.29% |
| Release date | Apr 28, 2026 |
| Price on release | $34.30 |
| EPS estimate | $0.430 |
| EPS actual | $0.470 |
| EPS surprise | 9.30% |
| Date | Price |
|---|---|
| Apr 22, 2026 | $35.36 |
| Apr 23, 2026 | $36.16 |
| Apr 24, 2026 | $35.77 |
| Apr 27, 2026 | $35.24 |
| Apr 28, 2026 | $34.30 |
| Apr 29, 2026 | $31.19 |
| Apr 30, 2026 | $32.96 |
| May 01, 2026 | $33.85 |
| May 04, 2026 | $32.54 |
| 4 days before | -3.00% |
| 4 days after | -5.13% |
| On release day | -9.07% |
| Change in period | -7.98% |
Enphase Earnings Call Transcript Summary of Q1 2026
Enphase reported Q1 2026 revenue of $282.9M, shipped ~1.41M microinverters and 103 MWh of batteries, and generated $83M free cash flow. Non-GAAP gross margin was ~44% and non-GAAP operating income ~17% of revenue. Channel inventory exited Q1 above normal levels; management said they overshipped in Q1 and plan to under-ship ~ $25M in Q2 to correct. Q2 guidance: revenue $280M–$310M (including ~$85M of safe-harbor revenue) and battery shipments of 100–110 MWh; non-GAAP gross margin guidance ~44% (42%–45% GAAP). U.S. demand weakened sequentially (post-’25 tax credit pull-forward and seasonality) while Europe showed green shoots in April with rising battery activations; management has cut distributor battery prices (~10% in Europe, ~12–14% in U.S.) and earlier cut microinverter pricing to compete. Safe-harbor activity remains large (new agreements ~ $843.6M YTD across methods), supporting multi-year microinverter volume and future battery-attached sales. Prepaid-lease (TPO-led “Propel”) pilot is scaling (management reports ~200 originations/week and ~84% battery attach rate), and could materially help restore U.S. demand economics. Product roadmap: IQ9 commercial and residential microinverters (high-power 548W 3-phase IQ9s expected Q3), 5th‑generation modular battery (pilots Q3, ship Q4), an 80 kWh commercial battery (pilots Q1 2027), bidirectional EV charger (initial availability Q4 limited deployments), and a strategic IQ solid-state transformer (SST) for AI data centers with demo this year, pilots in 2027 and volume in 2028. Company emphasizes U.S. manufacturing, domestic-content positioning for ITC benefits, and disciplined cash use (cash balance ~$930.6M after settling convertible notes). Risks called out include tax-equity/TPO financing headwinds, weather seasonality, and competitive pressure in Europe.
