Enphase Energy Inc

ENPH: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Enphase Earnings: No Surprises as the Firm Contends With Reciprocal Tariff Impacts

Joshua Aguilar

Jul 29, 2026

Enphase's second-quarter revenue declined nearly 20% to $291.9 million, while non-GAAP adjusted EPS of $0.46 declined by 33%. Both figures were broadly in line with expectations. Management expects third-quarter non-GAAP gross margin of 45.5%, including a 200-basis-point reciprocal tariff impact.

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Enphase Energy Inc

Enphase Earnings: No Surprises as the Firm Contends With Reciprocal Tariff Impacts

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