Enphase Energy Inc ENPH shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results.
Enphase reported third-quarter revenue of $634.71 million, which beat average analyst estimates of $610.65 million, according to Benzinga Pro. The company reported quarterly adjusted earnings of $1.25 per share, which beat average estimates of $1.08 per share.
Free cash flow reached $179.1 million in the third quarter. Enphase said it ended the quarter with $1.42 billion in cash and equivalents.
Enphase said it expects fourth-quarter revenue to be between $680 million and $720 million versus average analyst estimates of $660.21 million.
Enphase is a leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save and sell their own power.
ENPH Price Action: Enphase has a 52-week high of $324.83 and a 52-week low of $113.40.
The stock was up 0.35% in after-hours at $266.50 at the time of publication.
Photo: StockSnap from Pixabay.
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