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Enphase Energy | 10-Q: Q2 2024 Earnings Report

Enphase Energy | 10-Q: Q2 2024 Earnings Report

Enphase Energy | 10-Q:2024財年二季報
美股SEC公告 ·  2024/07/23 20:30

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Enphase Energy reported Q2 2024 revenue of $303.5 million, down 57% YoY from $711.1 million, as microinverter shipments declined 73% to 1.4 million units amid a broad market slowdown. Net income fell to $10.8 million from $157.2 million in Q2 2023. Gross margin slightly decreased to 45.2% from 45.5%, partially offset by IRA manufacturing credits.The company's performance was impacted by elevated channel inventory and reduced demand, particularly in the US due to higher interest rates and California's NEM 3.0 transition. In Europe, softer demand resulted from lower utility rates and policy changes. However, IQ Battery shipments increased 46% YoY to 120.2 MWh, demonstrating growth in energy storage.Management continued executing its restructuring plan to improve operational efficiency and reduce costs, resulting in $1.2 million in charges during Q2. The company maintained a strong financial position with $1.6 billion in cash and marketable securities, while repurchasing $99.9 million of common stock under its $1 billion share repurchase program.
Enphase Energy reported Q2 2024 revenue of $303.5 million, down 57% YoY from $711.1 million, as microinverter shipments declined 73% to 1.4 million units amid a broad market slowdown. Net income fell to $10.8 million from $157.2 million in Q2 2023. Gross margin slightly decreased to 45.2% from 45.5%, partially offset by IRA manufacturing credits.The company's performance was impacted by elevated channel inventory and reduced demand, particularly in the US due to higher interest rates and California's NEM 3.0 transition. In Europe, softer demand resulted from lower utility rates and policy changes. However, IQ Battery shipments increased 46% YoY to 120.2 MWh, demonstrating growth in energy storage.Management continued executing its restructuring plan to improve operational efficiency and reduce costs, resulting in $1.2 million in charges during Q2. The company maintained a strong financial position with $1.6 billion in cash and marketable securities, while repurchasing $99.9 million of common stock under its $1 billion share repurchase program.
Enphase Energy報告2024年第二季度營業收入爲30350萬,較去年同期的71110萬下降57%,因爲微逆變器出貨量在市場整體放緩中下降了73%,降至140萬台。凈利潤從2023年第二季度的15720萬降至1080萬。毛利率略微下降至45.2%,低於45.5%,部分由於IRA製造業補貼的影響。公司的業績受到渠道庫存上升和需求下降的影響,特別是在美國,由於利率期貨的提高和加州NEm 3.0的過渡。在歐洲,需求疲軟是由於公用事業費的降低和政策變化。然而,IQ電池的出貨量同比增長46%,達到120.2 MWh,顯示出能源存儲的增長。管理層繼續執行重組計劃,以提高運營效率和降低成本,在第二季度產生了120萬的費用。公司保持了強勁的財務狀況,擁有16億現金和可交易證券,同時在其10億的股票回購計劃下回購了9990萬普通股。
Enphase Energy報告2024年第二季度營業收入爲30350萬,較去年同期的71110萬下降57%,因爲微逆變器出貨量在市場整體放緩中下降了73%,降至140萬台。凈利潤從2023年第二季度的15720萬降至1080萬。毛利率略微下降至45.2%,低於45.5%,部分由於IRA製造業補貼的影響。公司的業績受到渠道庫存上升和需求下降的影響,特別是在美國,由於利率期貨的提高和加州NEm 3.0的過渡。在歐洲,需求疲軟是由於公用事業費的降低和政策變化。然而,IQ電池的出貨量同比增長46%,達到120.2 MWh,顯示出能源存儲的增長。管理層繼續執行重組計劃,以提高運營效率和降低成本,在第二季度產生了120萬的費用。公司保持了強勁的財務狀況,擁有16億現金和可交易證券,同時在其10億的股票回購計劃下回購了9990萬普通股。

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