Ultra Clean and PPG Rise as Enphase Falls After Earnings

Ultra Clean Holdings, Inc. (UCTT) and PPG rose in premarket trading Wednesday, while Enphase Energy fell after the companies released third-quarter results Tuesday, Oct. 27.

Ultra Clean's revenue for the quarter ended Sept. 25 was $759 million, up 49% from a year earlier. Diluted earnings were $0.85 per share under generally accepted accounting principles (GAAP) and $1.15 on a non-GAAP basis. The company forecast fourth-quarter revenue of $800 million to $860 million.

PPG's third-quarter net sales rose 7% year over year to $4.353 billion. Reported earnings were $2.12 per share, while adjusted earnings were $2.25. PPG raised the midpoint of its 2026 adjusted earnings outlook and set a range of $7.90 to $8.10 per share. Chairman and CEO Tim Knavish said the improved outlook reflected “growth momentum, realized pricing benefits, and execution of productivity programs.”

Enphase recorded third-quarter revenue of $293.3 million, down from $410.4 million a year earlier. Diluted earnings were $0.17 per share under GAAP and $0.41 on a non-GAAP basis. The company forecast fourth-quarter revenue of $225 million to $255 million and assumed sell-through would decline 10% from the third quarter. Enphase cited higher interest rates and the expiration of the Section 25D federal tax credit as headwinds for the U.S. residential solar market.