Enphase guides Q4 20% below consensus, and ~21% of the midpoint is safe harbor revenue
Enphase Energy ($ENPH) fell ~10% after hours today on a Q3 miss and a Q4 guide of $225M to $255M vs ~$300M expected.
What bugs me: $51.2M of that guide is safe harbor revenue, ~21% of the midpoint. Strip it out and Q4 core sales are ~$189M, down ~9% from Q3.
How long can tax timing carry a solar name?
Sources: Investing.com: ENPH falls 10.6%; Q4 midpoint $240M vs $300.5M consensus; adj EPS $0.41 vs $0.51 · @WOLF_Financial: ENPH Q3 revenue $293.3M vs $304M est, adj EPS $0.41 vs $0.51, Q4 guide $225M-$255M vs $300M
Not financial advice. For informational and educational purposes only.
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