Tag

Solar Equipment

All articles tagged with #solar equipment

finance1 year ago•1 min saved

"Enphase Energy Rides Demand Rebound, Stock Surges Despite Earnings Miss"

Enphase Energy's stock surges despite missing fourth-quarter earnings estimates, as CEO Badri Kothandaraman expresses optimism for a rebound in demand and a potential turnaround in the first quarter, citing expectations for increased demand in Europe and a more favorable rate environment outside of states like California. The company's sensitivity to interest rates has contributed to a choppy ride for its stock, which has declined more than 50% over the past year, but the CEO remains hopeful for improved performance moving forward.

via Yahoo Finance|

#demand-rebound #earnings-estimates #enphase-energy

business2 years ago•1 min saved

Enphase Energy Announces Layoffs, Citing Economic Challenges

Enphase Energy, a solar equipment maker, announced plans to lay off about 10% of its workforce, affecting approximately 350 contractors and employees, and cease manufacturing operations at two locations. The company will resize other contract manufacturing sites and continue a hiring and travel freeze through 2024. The decision comes after the solar market experienced turbulence worldwide, with high interest rates impacting consumer demand in the United States and slowing growth in Europe. Enphase expects to incur restructuring and asset impairment charges of approximately $16-18 million, with $7 million in cash expenditures. The company's Q4 outlook remains unchanged, except for a $15 million increase in GAAP operating expenses.

via Seeking Alpha|

#business #enphase-energy #layoffs