Enphase sees soft solar market rebounding despite weak sales

The company’s earnings often are seen as a bellwether for the broader industry. — Bloomberg

New York: Solar equipment giant Enphase Energy Inc sees the sluggish US rooftop market rebounding this year even as the company forecast disappointing sales for the second quarter.

Enphase shares dipped 5.5% in post-market trading after the company reported first-quarter results that missed analyst expectations as US revenue fell 34% compared to the prior quarter.