While domestic interest in residential solar technology cooled, Enphase saw revenue climb to $292 million, narrowly beating the $290 million projection set by FactSet analysts. This uptick was bolstered by a significant increase in safe-harbor shipments, which jumped to $84.3 million compared to $34.5 million in the first quarter. Additionally, a $52 million tariff refund provided a necessary financial buffer during the period.
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Enphase Energy Profits Dip Amid Shifting Solar Demand
A 3% decline in domestic solar demand hampered Enphase Energy’s second-quarter performance, forcing the residential technology firm to lean on European expansion and specialized shipments to keep revenue growth steady. The company reported net income of $36.1 million, slipping from the $37.1 million recorded during the same period last year.
International markets provided a critical counterbalance to the domestic slowdown, with European revenue surging by roughly 35%. Despite this regional strength, the company’s outlook for the third quarter remains cautious. Enphase projects revenue between $290 million and $320 million, a range that misses the $304 million consensus estimate held by analysts. This forecast incorporates approximately $75 million in anticipated safe-harbor shipments as the company navigates a volatile energy market.
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