Enphase stock rallies 8% after Q4 earnings blow past expectations, guidance

Enphase Energy Inc. shares jumped more than 8% in the extended session Tuesday after the maker of inverters for solar-power systems reported fourth-quarter earnings that topped Wall Street views and upped its guidance for the current quarter.

“We... Enphase Energy Inc. shares jumped more than 8% in the extended session Tuesday after the maker of inverters for solar-power systems reported fourth-quarter earnings that topped Wall Street views and upped its guidance for the current quarter. “We plan to begin domestic manufacturing in the second quarter of 2023 with a new contract-manufacturing partner, and in the second half of 2023 with our two existing contract-manufacturing partners,” the company said, without further detail.

Analysts polled by FactSet expected Enphase to report adjusted earnings of $1.27 a share on sales of $707 million.

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