Enphase Energy surges after record quarter despite supply chain woes

Enphase Energy shares surged in extended trading on Tuesday following the company's third-quarter results.

The company, which makes microinverters and backup energy storage for solar systems, posted sales of $351.5 million during the period, compared to the $345 million analysts surveyed by StreetAccount were expecting. "Every component in the supply chain is stressed," Kothandaraman told CNBC. "It is all hand to mouth...every cost is going up and that's happening right now." He noted that a shipping container that cost $2,000 last year now costs $16,000.

But the company doesn't envision any slowdown in demand for products despite longer delivery times. Enphase expects to ship between 90 and 100 megawatt hours of storage systems in the fourth quarter, up from 65 megawatt hours during the third quarter.

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