Enphase Energy (ENPH) Reports In-Line Q2 EPS, CEO Resigns

Enphase Energy (NASDAQ: ENPH) reported Q2 EPS of ($0.08), in-line with the analyst estimate of ($0.08). Revenue for the quarter came in at $74.7 million versus the consensus estimate of $74.48 million.

GUIDANCE:

Enphase Energy sees Q3 2017 revenue of $72-80 million, versus the consensus of $85.4 million.

(emphasis Street insider) Enphase Energy also announced today that Paul Nahi is stepping down as president and CEO. Nahi’s final day with Enphase is today; however, he will continue to assist Enphase as it transitions to a new leader. The Company’s Board of Directors is conducting an internal and external search for a permanent replacement, with the intention to name a successor by August 31, 2017. In the interim, the Board has created an Office of the CEO, consisting of Bert Garcia, CFO, and Badri Kothandaraman, COO, to oversee and provide leadership for the Company’s day-to day activities.

For earnings history and earnings-related data on Enphase Energy (ENPH) click here.

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