ENPH - Enphase Energy Stock Is Falling Wednesday: What's Going On? | Benzinga
Enphase Energy Inc (NASDAQ:ENPH) shares are trading lower Wednesday after the company reported worse-than-expected financial results and issued weak guidance.
What Happened: Enphase reported first-quarter revenue of $263.3 million, which missed the consensus estimate of $281.95 million, according to Benzinga Pro. U.S. revenue was down approximately 34% on a year-over-year basis, while revenues in Europe climbed approximately 70%.
“The decline in revenue for the first quarter of 2024 compared to the fourth quarter of 2023 was the result of seasonality and a further softening ...