Enphase Energy Inc ( ENPH ) reported financial results for the second quarter after the market close on Tuesday. Here's a rundown of the solar company’s report.

Q2 Earnings: Enphase Energy ( ENPH ) reported second-quarter revenue of $363.15 million, beating the consensus estimate of $359.26 million. The company reported adjusted earnings of 69 cents per share, beating analyst estimates of 63 cents per share, according to Benzinga Pro.

Total revenue was up from $356.1 million in the prior year's quarter. U.S. revenue increased approximately 3% on a quarter-over-quarter basis. Revenues in Europe increased approximately 11% quarter-over-quarter, driven by higher microinverter and battery sales.

Enphase said it shipped approximately 1.53 microinverters and 190.9 megawatt hours of IQ batteries in the quarter.

The company generated $26.6 million in cash flow from operations and $18.4 million of free cash flow during the quarter. Enphase ended the period with $1.53 billion in cash, cash equivalents and marketable securities.

Guidance: Enphase anticipates third-quarter revenue of $330 million to $370 million versus estimates of $363.25 million. The midpoint of the company’s guidance is softer than what analysts were anticipating, which appears to be weighing on shares.

Enphase expects third-quarter gross margin of 41% to 44%, or 43% to 46% on an adjusted basis. The gross margin guidance includes approximately three to five percentage points of new tariff impacts.

Enphase Energy’s management team is discussing the quarter on a call with investors and analysts that kicked off at 4:30 p.m. ET.

ENPH Price Action: Enphase shares were down 5.29% in after-hours, trading at $40.33 at the time of publication Tuesday, according to Benzinga Pro.

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