Enphase EnergyEurope is the next target of its attention. Russia’s invasion of UkraineThis drives power prices up to new records, giving homeowners the “strong desire”, for energy independence.

Badri Khothandaraman CEO stated that Tuesday’s company was “tripling Down on Europe in termsof spending.” This comment came after the company made its annual report. first-quarter earningsAnalyst expectations were exceeded by the results at both top and bottom.

This is how Enphase compared to analysts’ expectations as collected by Refinitiv.

• EarningsThe adjusted share price is 79 cents, as opposed to the expected 67 cents
• Revenue: $441 million vs $432 million expected.

Enphase, which produces microinverters for solar power systems and back-up energy storage, posted record revenues during this period. Sales increased 46% year on year. Enphase gave positive guidance, saying that it expected to make between $490 million-$520 million in the current quarter. Refinitiv’s analysts had predicted that this would be more than $475 million.

Extended trading on Tuesday night saw shares rise by 6%

Kothandaraman, the CEO of Kothandaraman, stated on company’s earnings conference that “we expect our momentum for Europe to continue” with over 40% expected sequential revenue growth in Q2 as compared to Q1. We are excited about the growth of the region and we are expanding the team.

There are currently operations in Germany and France as well as Belgium, France, Belgium, and the Netherlands. Italy, Spain, and Portugal are new markets.

Enphase’s focus has always been on the US. During the first quarter, 84% of Enphase’s revenues came from the US.

Kothandaraman said that supply chain issues — including parts shortages and rising freight prices — continue to ease. This has been felt by all segments as the economy bounces back from the pandemic.

He stated that the situation with component availability has improved over last year and that we have learned to reduce our risk. He said, “I can’t predict tomorrow but I can tell right now that our situation is fairly stable.”

Gross margin for the company in the first quarter was 40.1%, an increase of 39.6% from the previous quarter. Enphase increased prices for 2022 after increasing prices last fall to counter rising raw materials costs.

Enphase, like other solar companies, has suffered market losses due to policy uncertainty.

The Department of Commerce announced in March that it would launch an investigation into solar panel imports from Malaysian, Thailand, Vietnam, and Cambodia. They account for approximately 80% in the United States’ imports of panel panels.

California-based Auxin Solar brought the case. It claims Chinese companies avoided tariffs and moved manufacturing to four other countries.

The Solar Energy Industries Association and other industry advocates have stated that extending tariffs could hurt US solar development.

Kothandaraman also echoed the point. He said that the investigation created “massive uncertainties” in the market, which will cause lost jobs for Americans, higher electricity prices for consumers and increased imports from China.

“We are hoping that the current administration takes this problem seriously and resolves it rapidly — well before the proposed August time frame,” he said. Kothandaraman said that tax incentives are the best way to encourage domestic manufacturing.

Enphase has expanded beyond batteries and microinverters to offer energy management solutions. Enphase will start offering electric vehicle charging solutions through its distributors and solar installers in the fourth quarter. It plans to manufacture its own EV chargers before the end the year.