{"id":1984837,"date":"2023-07-28T06:58:02","date_gmt":"2023-07-28T10:58:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/enphase-energy-slumps-as-lukewarm-us-demand-weighs-on-revenue-forecast\/"},"modified":"2023-07-28T07:00:40","modified_gmt":"2023-07-28T11:00:40","slug":"enphase-energy-slumps-as-lukewarm-us-demand-weighs-on-revenue-forecast","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/enphase-energy-slumps-as-lukewarm-us-demand-weighs-on-revenue-forecast\/","title":{"rendered":"Enphase Energy&#8217;s stock drops due to weak US demand impacting revenue outlook."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fenphase-energy-slumps-as-lukewarm-us-demand-weighs-on-revenue-forecast%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1984837&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) \u2013 \u2064Shares of Enphase Energy slumped 17% in\u2064 premarket \u200btrading on Friday, after the solar inverter maker\u2019s \u2064third-quarter revenue target fell well short of\u2063 analyst\u2062 estimates due to weak demand.<\/p>\n<p>Appetite for solar equipment has been tepid in the United States due to lukewarm demand in states such as Texas \u2063and Arizona where cheaper electricity prices make the economics of residential solar less attractive.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The Fremont,\u2064 California-based company forecast revenue between $550 million and $600 million for\u200d the quarter ending Sept. 30, compared \u2063with analysts\u2019 estimate of\u200d $746.5 million.<\/p>\n<p>\u201cWe are assuming the same level of uncertainty continues going forward.\u2062 Therefore, we are\u2062 taking aggressive and\u2064 prudent actions in \u200cthe U.S. to manage down the channel inventory,\u201d said Enphase\u200b Energy CEO\u200c Badrinarayanan Kothandaraman.<\/p>\n<p>Analysts\u200c at Evercore ISI said the company\u2019s U.S. business is taking a one-time correction in its inventory levels in the third quarter, but \u200cgrowth in European markets is accelerating.<\/p>\n<p>Enphase also announced a new $1\u200d billion share buyback plan, which failed to stem the share \u200dselloff. <\/p>\n<p>Shares of rival SolarEdge Technologies Inc,\u2063 which is\u200c expected to report results on August 1, slid 6.3%.    <\/p>\n<p>In stark contrast, First Solar announced plans to spend up to $1.1 billion in its fifth U.S. factory to meet booming demand for American-made \u200dsolar panels, sending its shares 8.9%\u200d higher.<\/p>\n<\/p>\n<p>  (Reporting by Medha Singh in Bengaluru; Editing by Krishna Chandra Eluri)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/enphase-energy-slumps-as\/attachment\/illustration-shows-enphase-logo\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Jim Jordan provides evidence of #COVID19 censorship while it\u2019s a weekend at Feinstein\u2019s in the Senate<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Republicans are accusing Alejandro\u200c Mayorkas of dereliction of duty as he maintains the border is secure<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>A California school board president \u200csays she is \u2063facing several threats over a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hawaii-health-dept-trains-therapists-to-hide-childrens-sexuality-from-parents\/\" title=\"Hawaii Health Dept. teaches therapists to conceal kids' sexuality from parents.\">recent policy decision \u200caimed<\/a> at empowering parents.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>During a hearing\u200c on \u2064the \u2018Dangers and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/you-are-bloodthirsty-for-ratings-trump-attorney-tears-into-media-rips-off-his-mic\/\" title=\"\u2018You Are Bloodthirsty For Ratings\u2019: Trump Attorney Tears Into Media, Rips Off His Mic\">due process violations<\/a> of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/liberal-activists-rebrand-sex-changes-as-gender-affirming-medical-care-to-bully-state-officials-into-allowing-the-mutilation-of-children\/\" title=\"Liberal Activists Rebrand Sex Changes As \u2018Gender-Affirming Medical Care\u2019 To Bully State Officials Into Allowing The Mutilation Of Children\">gender affirming care<\/a> for \u200cchildren\u201d ethical arguments from\u2062 both sides \u2063were brought up.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Munsif Vengattil and Sumit Khanna GANDHINAGAR, India (Reuters) \u2013 India wants\u2064 to emerge \u2064as a trusted partner for the semiconductor \u200bindustry\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Victor\u2063 Goury-Laffont \u2064(Reuters) -France\u2019s Atos on Friday reported a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/enphase-energy-slumps-as-lukewarm-us-demand-weighs-on-revenue-forecast\/\" title=\"Enphase Energy's stock drops due to weak US demand impacting revenue outlook.\">wider half-year operating loss due<\/a> to restructuring costs related to its planned\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>TOKYO (Reuters) -Japan\u2019s Panasonic Holdings \u200dand automaker Subaru are expected to announce plans for an electric vehicle battery partnership soon, the \u2063Nikkei\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Sam Nussey, Miho Uranaka and Makiko Yamazaki TOKYO (Reuters) \u2013 JSR Corp, which plans a\u200d $6.4 billion sale to a government-backed\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Enphase Energy dropped 17% in premarket trading as its Q3 revenue target missed analyst estimates due to weak demand. The US solar equipment market has been lackluster, particularly in states like Texas and Arizona, where cheaper alternatives are preferred.<\/p>\n","protected":false},"author":66,"featured_media":1984838,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1984837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1984837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1984837"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1984837\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1984838"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1984837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1984837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1984837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}