Enphase Energy sinks 13% as guidance trails analyst consensus by 30%

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For Q2, Enphase reported an adjusted EPS of $1.47 on revenue of $711.1 million, which compares to the consensus for earnings of $1.27 per share on revenue of $725.5M. CapEx soared to $44 million while analysts expected just $18.3 million.

For this quarter, Enphase sees revenue in the range of $550 million-600 million, compared to the consensus for $748 million.

The company said its Board has recently authorized a new share repurchase program worth up to $1 billion.