
Enphase Energy reported Q3 revenue of $410.4 million and EPS of $0.90, beating estimates, but anticipates Q4 revenue between $310 to $350 million and a larger than normal seasonal decline in Q1 '26 with revenue of $250 million.
Bullish
Q3 revenue was $410.4 million, the highest in two years, with record battery shipments and strong gross margin of 49%.
Bearish
Anticipate a larger than normal seasonal decline in Q1 '26 with company revenue of $250 million following the expiration of 25 D tax credit.