文章核心观点 尽管太阳能行业长期增长前景乐观，但受高利率、组件成本通胀压力、政府政策不确定性和库存过剩等因素影响表现疲软 不过太阳能成本大幅下降且美国《降低通胀法案》支持可再生能源容量增长 推荐两只仍处于低价区间的太阳能股票，分别是First Solar和Enphase Energy [1] 分组1：First Solar公司情况 - 作为碲化镉薄膜光伏技术先驱，相比晶体硅具有可扩展性强、理论效率上限高和成本低的优势 公司订单积压量达75.9GW至2030年，无论总统选举结果如何都有望发展良好 利率下降有利于更多投资公用事业规模和住宅规模太阳能项目 [2] - 整体市场排名处于第100百分位，分析师评级为适度买入，上行空间41.2%，空头兴趣水平健康，预计盈利增长率57.65% [3] - 是美国最大太阳能面板制造商，对制造过程完全可控 俄亥俄州工厂总产能7.1GW，阿拉巴马州工厂总产能10.6GW，路易斯安那州工厂预计2025年下半年投产，总产能14.1GW 产量比最接近的竞争对手高出50% 政府支持其国内生产和供应链，产品主要面向公用事业规模项目 公司资产负债表稳健，拥有12亿美元现金及现金等价物 [3] - 年初至今股价上涨15.2%，2024年第三季度共识预期每股收益3.11美元，营收10.72亿美元 [4] 分组2：Enphase Energy公司情况 - 是基于微型逆变器的太阳能和电池系统开发商，年初至今股价下跌36% 是微型逆变器生产的领导者，能提高能源收集和优化能源生产 [4] - 2024年第三季度财报发布后股价下跌近15% 每股收益65美分，低于共识预期13美分 营收同比下降31%至3.81亿美元，低于共识预期1200万美元 净利润从去年同期的1.1395亿美元降至4576万美元 公认会计准则毛利率从去年的47.5%降至46.8% [5] - 对2024年第四季度发布下行指引，预计营收在3.6亿美元至4亿美元之间，低于共识预期4.3354亿美元 非公认会计准则毛利率不包括净IRA福利预计在39%至42%之间，包括净IRA福利预计在49%至52%之间 [6] - 美国销售额因分销商发货量增加和库存恢复正常水平而环比增长43%，欧洲营收环比下降15%，公司称是欧洲需求疲软所致 [7] - 整体市场排名处于第91百分位，分析师评级为持有，上行空间31.4%，空头兴趣水平看跌，预计盈利增长率161.02% [8] - 管理层称宏观经济状况和较低电价导致业绩未达预期，欧洲需求疲软是主要原因 但古根海姆认为是其中国竞争对手以低于Enphase一半的价格销售产品所致 [9] - 因产品超出客户实际需求，在欧洲正失去市场份额给质量较差但在改善的竞争对手 古根海姆将其评级从中性下调至卖出，目标价73美元 [10]

LONDON, ENGLAND - MARCH 28: The Enphase domestic home EV electric Vehicle charger company logo ... [+] branding is displayed during the Everything Electric London 2024 at ExCel on March 28, 2024 in London, England. The show, designed to inspire people, includes an array of visitor attractions, dozens of 'live sessions' and an exhibition of hundreds of companies, electric vehicles of all types, and a large selection of home energy options. (Photo by John Keeble/Getty Images)Getty ImagesEnphase Energy (NASDAQ ...

文章核心观点 - 自2023年秋季以来,该行业由于利率上升、电价下降以及加州和荷兰NEM法规变化而遭受了大规模需求下降 [1] - 作者专注于发现和分析能在当今地缘政治中发挥重要作用、利用自身知识产权并最终成为新领导者的公司 [1] - 投资风格将对应于增长型公司,偏重于中型股 [1] - 重点关注业务案例的风险,采用自上而下的方法补充每个自下而上的分析 [1] - 由于成长型业务通常无法通过融资测试,因此将进行系统的资产负债表分析,并采用压力测试来挑战论点并了解每个模型中的安全程度 [1] - 更倾向于长期资本增值,而非短期投机 [1] 行业总结 - 自2023年秋季以来,该行业遭受了大规模需求下降,原因包括利率上升、电价下降以及加州和荷兰NEM法规变化 [1] - 该行业受到上述因素的严重影响 [1] 公司总结 - 作者专注于发现和分析能在当今地缘政治中发挥重要作用、利用自身知识产权并最终成为新领导者的公司 [1] - 投资风格将对应于增长型公司,偏重于中型股 [1] - 重点关注业务案例的风险,采用自上而下的方法补充每个自下而上的分析 [1] - 由于成长型业务通常无法通过融资测试,因此将进行系统的资产负债表分析,并采用压力测试来挑战论点并了解每个模型中的安全程度 [1] - 更倾向于长期资本增值,而非短期投机 [1]

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Enphase Energy. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

JR Research is an opportunistic investor. He was recognized by TipRanks as a Top Analyst. He was also recognized by Seeking Alpha as a "Top Analyst To Follow" for Technology, Software, and Internet, as well as for Growth and GARP. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500. He has also demonstrated outperformance with his picks. He focuses on identifying growth investing opportunities that present the most attracti ...

In my Q3 earnings preview of Enphase Energy (NASDAQ: ENPH ), I mentioned that the quarter was the last sign of weakness before a likely bullish Q4. That said, the results underperformed my estimates, and the following overOliver Rodzianko is an investment analyst specializing in the technology sector, with a focus on artificial intelligence, semiconductors, software, and renewable energy. He has earned a strong reputation on Seeking Alpha, where he is frequently featured in the platform’s "Must Reads." His ...

文章核心观点 - 太阳能设备制造商Enphase Energy第三季度业绩和指引低于预期,主要是欧洲需求疲软 [1][2] - 公司预计第四季度美国业务会有"增量改善",但欧洲市场仍将持续疲软 [2] - 公司股价大跌约40%,创近一年新低 [3] 公司业绩总结 - 第三季度调整后每股收益0.65美元,低于分析师预期 [1] - 第三季度收入下降超过30%至3.809亿美元,也低于预期 [1] - 欧洲销售额环比下降15%,由于"欧洲需求进一步疲软" [1] - 美国收入环比跳涨43%,因"分销商的库存水平恢复正常" [1] 公司指引总结 - 公司预计第四季度收入将在3.6亿-4亿美元之间,低于预期 [2] - CEO表示公司正在"努力管理Enphase度过行业低迷期" [2] - 预计第四季度美国业务会有"增量改善",但欧洲市场仍将持续疲软 [2]

Shares of Enphase Energy Inc (NASDAQ:ENPH) are gapping lower today, after the energy technology company missed third-quarter earnings and revenue estimates. At last glance, the stock was down 13.7% at $79.61 and headed for its largest single-day percentage drop since last October. Enphase Energy stock was already on its way lower the past few weeks, after running into long-term pressure at the 320-day moving average. Though its only midweek, it seems likely that the stock will notch a fourth-straight weekly ...

Enphase stock is down over 30% this year. Is the stock a buy right now?In this video, I will go over Enphase's (ENPH 2.00%) third-quarter earnings and explain why the stock is down. Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Oct. 22, 2024. The video was published on Oct. 22, 2024. ...

Enphase Energy, Inc. (ENPH) reported third-quarter 2024 adjusted earnings of 65 cents per share, which declined 36.3% from $1.02 in the prior-year quarter. The bottom line also lagged the Zacks Consensus Estimate of 78 cents by 16.7%.Including one-time adjustments, the company posted GAAP earnings of 33 cents per share, which significantly deteriorated from the year-ago quarter’s figure of 80 cents.The year-over-year deterioration can be attributed to a double-digit decline in third-quarter revenues as well ...