Enphase Energy jumps after company posts record revenue, gives upbeat guidance


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Shares of Enphase Energy rose more than 16% during extended trading Tuesday after the company reported record revenues for the fourth quarter. The company beat analyst estimates on both the top- and bottom-line.

Enphase, which makes microinverters and backup energy storage for solar systems, said sales jumped 17% quarter over quarter despite ongoing supply constraints and logistical challenges. The company also issued upbeat guidance.

“Our overall customer demand for Q1 is quite robust for both microinverters and batteries,” CEO Badri Kothandaraman said on the company’s earnings call. “The component availability is certainly better than what we experienced last…

Source cnbc.com

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