Solid First-Quarter Performance Makes These 2 Solar Stocks Attractive
A strong quarterly result typically leads to a surge in the price of a company's stock. But two solar stocks plunged recently despite reporting strong first-quarter performance. Let's see what caused the stocks to fall, and what to expect for them in the future.
There is much to like about Enphase Energy's (NASDAQ: ENPH) first-quarter results. The company's revenue grew 47% compared to the year-ago quarter. That was higher than the 41% increase Enphase had guided. Gross margin for the quarter was 40.7%, higher than its margin of 39.2% in the same quarter last year.
The company's non-GAAP gross margin of 41.1% was marginally higher than its guidance range of 38% to 41%. Enphase Energy generated $75.8 million in cash from operations -- significantly higher than the year-ago quarter.
Source Fool.com
