SolarEdge (SEDG) Q3 Earnings Beat Estimates, Revenues Up Y/Y
Zacks Investment Research | Nov 06, 2019 10:53PM ET
SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported third-quarter 2019 adjusted earnings of $1.21 per share, which surpassed the Zacks Consensus Estimate of 99 cents by 22.2%. The bottom line, moreover, rose 28.7% from 94 cents in the prior-year quarter.
Barring one-time adjustments, the company posted GAAP earnings of 81 cents per share compared with 66 cents in the year-ago quarter.
Revenues
SolarEdge’s revenues of $410.6 million in the third quarter surpassed the Zacks Consensus Estimate of $400 million by 2.7%. The top line also surged 73.5% from the year-ago quarter’s $236.6 million on solid shipments.
Operational Highlights
SolarEdge shipped a total of 1.5 Gigawatts (AC) of inverters in the reported quarter.
Gross profit totaled $139.3 million, surging 78.6% from $78 million a year ago.
Total operating expenses soared 66.8% year over year to $73.3 million. The uptick can be attributed to higher research & development, sales & marketing, general & administrative and non-recurring expenses.
Operating income during the quarter totaled $66 million, surging 94% from $34 million in the year-ago quarter.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
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