SolarEdge Technologies, Inc. (SEDG - Free Report) is scheduled to report its third-quarter 2023 results on Nov 1 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 2.75%. SolarEdge has a trailing four-quarter earnings surprise of 22.90%, on average.
Factors to Note
Strong revenues from the solar business, backed by increased global sales of residential batteries, power optimizers, inverters and trackers, are likely to have benefited SolarEdge’s sales in the third quarter.
Region-wise, Europe is likely to have contributed significantly to SolarEdge’s third-quarter revenues as installation rates continue to be high in the residential and commercial markets in the region. However, the lower shipment of batteries in Europe might have adversely impacted overall the top line. Also, macroeconomic factors in the United States and the new net metering 3.0 regime in California are likely to have dampened revenues in the third quarter.
The Zacks Consensus Estimate for SEDG’s third-quarter revenues is pegged at $766.7 million, suggesting a decline of 8.4% from the year-ago quarter.
Sales from newly acquired Hark Systems, characterized by very high gross margins, are likely to have contributed to the overall margin performance in the third quarter, thus boosting the overall bottom line. However, a weak top line and higher operating expenses may have dampened its overall bottom line in the third quarter of 2023.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 68 cents per share. This indicates a decline of 25.3% from the prior-year reported figure.
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SolarEdge Technologies, Inc. (SEDG - Free Report) is scheduled to report its third-quarter 2023 results on Nov 1 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 2.75%. SolarEdge has a trailing four-quarter earnings surprise of 22.90%, on average.
Factors to Note
Strong revenues from the solar business, backed by increased global sales of residential batteries, power optimizers, inverters and trackers, are likely to have benefited SolarEdge’s sales in the third quarter.
Region-wise, Europe is likely to have contributed significantly to SolarEdge’s third-quarter revenues as installation rates continue to be high in the residential and commercial markets in the region. However, the lower shipment of batteries in Europe might have adversely impacted overall the top line. Also, macroeconomic factors in the United States and the new net metering 3.0 regime in California are likely to have dampened revenues in the third quarter.
The Zacks Consensus Estimate for SEDG’s third-quarter revenues is pegged at $766.7 million, suggesting a decline of 8.4% from the year-ago quarter.
Sales from newly acquired Hark Systems, characterized by very high gross margins, are likely to have contributed to the overall margin performance in the third quarter, thus boosting the overall bottom line. However, a weak top line and higher operating expenses may have dampened its overall bottom line in the third quarter of 2023.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 68 cents per share. This indicates a decline of 25.3% from the prior-year reported figure.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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