Financial highlights for the second quarter of 2023 are listed below:
Quarterly revenue of $711.1 million
GAAP gross margin of 45.5%; non-GAAP gross margin of 46.2%
GAAP operating income of $170.3 million; non-GAAP operating income of $230.5 million
GAAP net income of $157.2 million; non-GAAP net income of $205.6 million
GAAP diluted earnings per share of $1.09; non-GAAP diluted earnings per share of $1.47
Free cash flow of $225.2 million; ending cash, cash equivalents, and marketable securities of $1.8 billion
Total revenue for the second quarter of 2023 was $711.1 million, compared to $726.0 million in the first quarter of 2023. Our revenue in the United States for the second quarter of 2023 decreased over 12% due to macroeconomic conditions, while our revenue in Europe increased approximately 25%, compared to the first quarter of 2023.
Source: https://finance.yahoo.com/news/enphase-energy-reports-financial-results-200500066.html
ENPH announces share repurchase program
ENPH announced today that its Board of Directors approved a new share repurchase program with authorization to purchase up to $1.0 billion of shares of its common stock.
“Given our confidence in our long-term strategy and the value we see in our stock, our board has authorized an additional $1.0 billion for share repurchases,” said Badri Kothandaraman, president and CEO of Enphase Energy. “Our significant free cash flow generation allows us to continue investing for the long term, while also opportunistically buying back stock through a repurchase program.”
Source: https://finance.yahoo.com/news/enphase-energy-announces-share-repurchase-200800827.html
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