Enphase Energy stock skyrockets after huge revenue beat; CFO to retire for individual factors

Shares of Enphase Energy Inc. ENPH, +2.65% skyrocketed 18.4% towards a five-week high in premarket trading Wednesday, after the energy innovation business reported fourth-quarter revenue that was well above expectations and record profits, while likewise stating Chief Financial Officer Eric Branderiz will retire after about 4 years with the business for individual factors. Branderiz, who signedupwith the business in 2018, will be prospered as CFO by Mandy Yang, who is presently Chief Accounting Officer, efficient Feb.15 Late Tuesday, the business reported internet earnings that more than doubled to $52.6 million, or 37 cents a share, from $21.8 million, or 15 cents a share, in the year-ago duration. Excluding nonrecurring products, changed revenues per share of 73 cents beat the FactSet agreement of 59 cents. Revenue grew 17.4% to a record $412.7 million, above the FactSet agreement of $410.2 million. The business stated it anticipates first-quarter income of $420 million to $440 million, surrounding the FactSet agreement of $423 million. The stock has toppled 39.6% over the past 3 months while the S&P 500 SPX, +0.84% has slipped 3.5%.

Source: Enphase Energy stock skyrockets after huge revenue beat; CFO to retire for individual factors.

Enphase Energy stock soars after big profit beat; CFO to retire for personal reasons - Click To Share

Share on facebook
Share on twitter
Share on reddit
Share on linkedin
Share on email
Share on whatsapp

Other recent press releases

*This is a free press release. All upgraded press releases are ad-free!

LIVE on May 17, 9 AM ET: First UFO Hearing in Congress

The House Intelligence Counterterrorism, Counterintelligence, and Counterproliferation Subcommittee will hold an open hearing on Unidentified Aerial Phenomena on May 17. Following the open portion of the hearing, the subcommittee will hold a closed, classified briefing. Who Honorable Ronald S. Moultrie, Under Secretary of Defense for Intelligence and Security Scott W. Bray, Deputy Director of Naval Intelligence…

Infertile men may be twice as likely to develop breast cancer, study suggests

Infertile men may be twice as likely to develop breast cancer than those without fertility issues, according to one of the largest ever studies of the disease.Breast cancer in males is less common than in females and its relation to infertility had previously been investigated only in small studies. The new research was published in…