5 Key Takeaways From Enphase's Earnings Report
As the solar industry starts to rebound from the downturn in demand caused by the pandemic, shares of solar innovator Enphase Energy (NASDAQ: ENPH) have soared by almost 50% since its second-quarter 2020 earnings call. However, with a price-to-earnings (P/E) ratio around 80 -- over twice that of the average S&P 500 company -- some investors see Enphase as an "expensive" stock. But that P/E difference just means that investors are expecting Enphase's future earnings to grow faster than those of the average S&P component. What is fueling investors' expectations? A look at the company's third-quarter 2020 earnings call reveals a few clues.
Enphase Energy's new Encharge system. Image credit: Enphase Energy, Inc.
Source Fool.com
