Shares of Enphase Energy Inc. ENPH dropped more than 15% in the extended session Tuesday after the energy technology company reported first-quarter earnings that beat Wall Street expectations but called for lower-than-expected revenue in the current quarter. Enphase earned $146.9 million, or $1.02 a share, in the first quarter, compared with $52 million, or 37 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $1.37 a share. Revenue rose to $726 million from $441 million a year ago. FactSet consensus called for adjusted EPS of $1.21 on sales of $724 million in the quarter. Enphase guided for second-quarter 2023 revenue in a range between $700 million and $750 million. FactSet analysts expect revenue of $762 million.
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