Miniatures of solar panel and electric pole are seen in front of Enphase logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration July 28 (Reuters) – Shares of Enphase Energy (ENPH.O) slumped 17% in premarket trading on Friday, after the solar inverter maker’s third-quarter revenue target fell well short of analyst estimates due to weak demand.
Appetite for solar equipment has been tepid in the United States due to lukewarm demand in states such as Texas and Arizona where cheaper electricity prices make the economics of residential solar less attractive.
The Fremont, California-based company forecast revenue between $550 million and […]
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