Enphase Energy (NASDAQ:ENPH) shares plunged more than 13% intra-day today after the company fell short of Wall Street expectations for the first quarter and issued a softer-than-expected revenue forecast for the current quarter.
The solar tech firm reported adjusted earnings of $0.68 per share for Q1 2025, narrowly missing the $0.70 analyst estimate. Revenue totaled $356.1 million, just shy of projections but still reflecting a 35% year-over-year increase from $263.3 million in the same period last year.
Looking ahead, the company expects second-quarter revenue between $340 million and $380 million. Even at the high end, the forecast barely matches market expectations, while the midpoint—$360 million—comes in well below consensus. This includes around $40 million in safe harbor revenue.
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