Sunday, 9 August 2026

Enphase Energy reported quarterly revenue of $291.9 million for the second quarter of 2026, alongside approximately $1.08 billion in year-to-date agreements signed with third-party owners, according to a company release distributed by GlobeNewswire.

Shipments in the quarter came to roughly 1.59 million IQ Microinverters, equivalent to 725.2 MW DC, plus 113.8 MWh of IQ Batteries, the release states.

Margins split widely between accounting bases. Enphase posted a GAAP gross margin of 60.0% against a non-GAAP gross margin of 46.8%. GAAP net income reached $36.1 million, while the non-GAAP figure came in at $61.5 million.

The third-party owner agreements break into two tax-credit qualification routes: $202.4 million under the 5% ITC Safe Harbor and $878.6 million under the Physical Work Test, per the company. Both are mechanisms for locking in investment tax credit eligibility ahead of statutory deadlines, and the heavier weighting toward the Physical Work Test accounts for more than four-fifths of the executed total.

Customs refunds added to the quarter's cash position. Enphase said it received approximately $41.0 million in refunds from U.S. Customs and Border Protection during the second quarter, with a further $11.0 million arriving after the quarter closed.

Free cash flow totaled $25.9 million for the period, and the company closed the quarter holding $937.7 million in cash, cash equivalents and marketable securities. That balance sits above three times the quarter's revenue.

Revenue of $291.9 million against 725.2 MW DC of microinverter shipments and 113.8 MWh of battery capacity gives a picture of a business still split between its inverter franchise and a storage line measured in megawatt-hours rather than megawatts.

A definitive agreement between SoftVest and Blackbeard puts a value of roughly USD 2.24 billion on the merger of the Permian Basin Royalty Trust with Blackbeard's land and mineral holdings, World Oil reported.

The merged entity takes the name PBT Land and Minerals, Inc. Its acreage position covers about 111,000 net royalty acres alongside 68,000 surface acres, sitting mainly on the Central Basin Platform within the Permian basin, according to World Oil.

Current PBT unitholders are set to hold roughly 59%, leaving 41% with Blackbeard and its affiliates, World Oil reported.

A senior secured revolving credit facility of USD 500 million, arranged with JPMorgan as lead, passes to the new company, which can draw a further USD 100 million under an accordion feature, according to World Oil.

World Oil reported that daily volumes at Waddell Ranch under Blackbeard Operating moved from about 3,000 bpd to above 35,000 bpd.

South Africa's Eskom welcomed the convictions of former contractor Michael Lomas and businessman Hudson Kgomoeswana over procurement irregularities and corruption tied to the Kusile Power Station project, according to SAnews.

The utility framed the outcome as part of a wider enforcement effort rather than an isolated case. Eskom said it remains an active participant in coordinated initiatives run through the National Joint Operational and Intelligence Structure (NATJOINTS), the Energy Safety and Security Priority Committee, and other government-led structures set up to counter fraud, corruption, theft and related criminal activity, SAnews reported.

Kusile has been a focal point for procurement scrutiny at the state power company, and the convictions of Lomas and Kgomoeswana attach individual criminal liability to conduct Eskom described as historical procurement irregularities.