Enphase Energy Gears Up to Report Q2 Earnings: Here's What to Expect

Factors at Play Ahead of ENPH’s Q2 Results

During the second quarter, ENPH announced the expansion of commercial microinverter deployments across the United States. Stronger microinverter shipments from Enphase Energy's U.S. manufacturing facilities are expected to have supported its quarterly earnings.

In May 2026, Enphase Energy announced the launch of PowerMatch technology across North America. In June 2026, the company launched the IQ9N microinverter for residential solar across key European markets. These product launches strengthen Enphase Energy's residential solar portfolio and are expected to drive higher customer adoption and product shipments, supporting the company's revenue and earnings growth in the second quarter of 2026.

Product launches, coupled with robust microinverter and battery shipments amid healthy solar demand, are likely to have supported ENPH's overall performance in the to-be-reported quarter.

On a regional basis, Enphase Energy expects continued strength in the U.S. market and improving demand trends across Europe.

ENPH's continued investments in product innovation and customer support, along with ongoing cost-reduction efforts, are anticipated to have boosted its earnings in the to-be-reported quarter.

Meanwhile, reciprocal tariffs remain a key headwind. The company expects them to reduce second-quarter 2026 gross margins by nearly three percentage points, weighing on profitability.

Q2 Expectations for ENPH

The Zacks Consensus Estimate for ENPH’s sales stands at $292.2 million, which suggests a decline of 19.6% from the year-ago reported number. 

The Zacks Consensus Estimate for earnings per share is pinned at 46 cents, which indicates a year-over-year fall of 33.3%.

The Zacks Consensus Estimate for total megawatts (MWs) shipped is pegged at 689 MW, up 2% from the figure registered in the year-ago quarter.

What the Zacks Model Unveils for ENPH

Our proven model does not conclusively predict an earnings beat for Enphase Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.

Earnings ESP: ENPH has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, Enphase Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are three companies from the same sector that have the right combination of elements to post an earnings beat this reporting cycle:

First Solar, Inc. FSLR is slated to report its second-quarter 2026 results on July 30, after market close. It has an Earnings ESP of +15.75% and a Zacks Rank of 3 at present.

The Zacks Consensus Estimate for FSLR’s earnings is pegged at $2.74 per share, indicating a year-over-year decline of 13.8%. The consensus estimate for its sales stands at $1.06 billion, suggesting a year-over-year rise of 3.3%.

Devon Energy DVN is expected to report its second-quarter 2026 results on Aug. 4, after market close. It has an Earnings ESP of +0.61% and carries a Zacks Rank of 3 at present. 

The Zacks Consensus Estimate for DVN’s earnings is pegged at $1.30 per share, indicating a year-over-year surge of 54.8%. The consensus estimate for its sales stands at $6.30 billion, calling for a year-over-year jump of 47%.

Ormat Technologies Inc. ORA is slated to report its second-quarter 2026 results on Aug. 5, after market close. It has an Earnings ESP of +73.47% and a Zacks Rank of 3 at present.

The Zacks Consensus Estimate for ORA’s earnings is pegged at 29 cents, implying a year-over-year fall of 39.6%. The consensus estimate for its sales stands at $253.9 million, suggesting a year-over-year rise of 0.8%.

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."

Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research