By Josée Rose

Enphase's third-quarter profit and revenue rose, but it expects fourth-quarter revenue to fall.

The company that specializes in solar energy for homes said net income was $66.6 million, or 50 cents a share, compared with $45.8 million, or 33 cents, a year earlier.

Third-quarter adjusted earnings rose to 90 cents a share.

Analysts polled by Factset expected quarterly earnings of 23 cents a share and adjusted earnings of 65 cents a share.

Enphase said revenue climbed to $410.4 million. Analysts had been expecting revenue of $369.3 million.

The company said it shipped about 1.77 million microinverters in the quarter, and the majority were made in facilities in the U.S. that "it booked for 45X production tax credits."

Enphase expects fourth-quarter revenue of $310 million to $350 million. Analysts are modeling for revenue of $383 million. In the year-ago fourth quarter, the company reported revenue of $382.7 million.

Solar energy companies such as Enphase had expected demand for solar panels to pick up in the months before a key residential solar tax credit expires at the end of this year, while other solar tax credits will end in the next two years.

Enphase has said it's pivoting by designing new financing structures to capture more of the third-party owned market, in which the customer buys the solar energy rather than the solar panels themselves.

Write to Josée Rose at josee.rose@wsj.com

(END) Dow Jones Newswires

October 28, 2025 16:53 ET (20:53 GMT)

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