2024-05-05 05:03:00 ET
Enphase Energy 's (NASDAQ: ENPH) slowdown took a noticeable turn for the worse in the first quarter of 2024 as sales fell below $300 million for the first time in over three years, and Enphase reported a net loss. However, management is seeing signs of a recovery and reiterated the optimism it shared on prior earnings calls about the second half of this year.
Investors who have stuck with Enphase over the last few years are likely doing so because of the long-term investment thesis centered around increased solar adoption and the energy transition. Let's dive into the earnings call to understand the state of the business, what management is seeing in the marketplace, and whether the growth stock is worth buying now.
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Enphase Believes the Worst of the Solar market Downturn Is Over. Is That Enough to Make It a Buy?