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2024.07.23 21:00

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Solar inverter supplier Enphase Energy reported second-quarter revenue of $303.5 million, slightly below analysts' expectations of $309.9 million. The company shipped 1.4 million microinverters in the second quarter, lower than analysts' forecast of 1.74 million. Total battery shipments in the second quarter reached 120.2 MWH, surpassing analysts' expectation of 105.96 MWH. Revenue for the third quarter is expected to be between $370 million and $410 million, below analysts' forecast of $403.8 million. Channel inventory has returned to normal levels. In the second quarter, sales in the United States, excluding California, grew by 7%; the California market has stabilized. European battery demand is expected to pick up. The Federal Reserve is expected to cut interest rates later this year. Enphase Energy (ENPH) stock rose by 5.90% after hours

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