Everyone expected emerging demand response leader EnerNOC (ENOC) to have a great quarter, but it was MUCH better than expected on the EPS side.  While the company posted a revenue number that was about 5% below analyst expectations at $66.5 million, the EPS number of .17/share smashed the estimate of .03/share. 

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CEO Tim Healy commented on the quarter, saying, “We are approaching 5,000 megawatts under management sooner than expected due to strong sales that have increased our market share in key utility and grid operator territories. We are also continuing to experience sales momentum for our non-demand response applications and services. As a result of this traction, we are raising our revenue and earnings guidance for 2010.  Our key contract wins have enhanced our long-term visibility as we currently have over $1.1 billion of Contracted Revenue, which we believe serves as a strong indicator of continued profitable growth in the years to come.”

The company is raising EPS guidance for next quarter and the full year.  It now sees non GAAP Q3 EPS of $1.60 – $1.70 (compared to analyst estimate of $1.49)  It’s raising full year guidance too from $.89 to $.97 to $.94 – $1.04 (analysts expected just .70)

A big beat and raise quarter for ENOC which should at least keep shares up at levels where they are now and may just be the catalyst needed for a breakout to a new 52 week high.  Shares are up about 1% in after hours trading.