SolarEdge Technologies (SEDG - Free Report) reported fourth-quarter 2019 adjusted earnings of $1.65 per share, which surpassed the Zacks Consensus Estimate of $1.30 by 26.9%. Moreover, the bottom-line figure surged 161.9% from 63 cents in the prior-year quarter.
Barring one-time adjustments, the company posted GAAP earnings of $1.03 per share compared with 27 cents in the year-ago quarter.
For 2019, SolarEdge’s adjusted earnings came in at $4.44 per share, which exceeded the Zacks Consensus Estimate of $4.05 by 9.6%. The reported figure also jumped 40% from $3.17 a year ago.
Revenues
Solar Edge’s revenues of $418.2 million in the fourth quarter surpassed the Zacks Consensus Estimate of $415.3 million by 0.7%. Further, the top line surged 58.6% from the year-ago quarter’s $263.7 million.
For 2019, the company’s revenues of $1,425.7 million exceeded the Zacks Consensus Estimate of $1,420 million by 0.4% and soared 52.1% from the year-ago quarter’s figure.
Operational Highlights
While SolarEdge shipped a total of 1.6 Gigawatts (AC) of inverters in the reported quarter, it shipped 5.6 Gigawatts (AC) of inverters in 2019.
Gross profit totaled $143.2 million, jumping 79.7% from $79.7 million a year ago.
Total operating expenses grew 66.3% year over year to $92.7 million, owing to higher research & development, sales & marketing and other operating expenses.
Operating income during the quarter was $50.5 million, up 111% from $24 million in the year-ago quarter.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
Financial Performance
SolarEdge had $223.9 million of cash and cash equivalents, as of Dec 31, 2019, up from $187.8 million at the end of 2018.
Cash flow from operating activities amounted to $259 million at 2019-end, up from $189.1 million a year ago.
Long-term liabilities were $246.2 million at the end of 2019 compared with $168 million as of Dec 31, 2018.
Guidance
For first-quarter 2020, SolarEdge expects to generate revenues of $425-$440 million. The Zacks Consensus Estimate for the same is pegged at $358.3 million, lower than the company’s guided range.
Additionally, revenues from solar products during the first quarter are projected between $405 million and $415 million.
While the company’s GAAP gross margins are expected to be 32-34%, gross margins from the sale of solar products are expected to be 33-35%.
Zacks Rank
SolarEdge currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Recent Solar Release
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2019 adjusted earnings of 39 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 18.2%. The bottom line also surged a massive 875% from 4 cents reported in the prior-year quarter.
Upcoming Solar Releases
Sunrun (RUN - Free Report) is set to release fourth-quarter results on Feb 27.
Vivint Solar is expected to post fourth-quarter 2019 results soon.
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SolarEdge Technologies (SEDG - Free Report) reported fourth-quarter 2019 adjusted earnings of $1.65 per share, which surpassed the Zacks Consensus Estimate of $1.30 by 26.9%. Moreover, the bottom-line figure surged 161.9% from 63 cents in the prior-year quarter.
Barring one-time adjustments, the company posted GAAP earnings of $1.03 per share compared with 27 cents in the year-ago quarter.
For 2019, SolarEdge’s adjusted earnings came in at $4.44 per share, which exceeded the Zacks Consensus Estimate of $4.05 by 9.6%. The reported figure also jumped 40% from $3.17 a year ago.
Revenues
Solar Edge’s revenues of $418.2 million in the fourth quarter surpassed the Zacks Consensus Estimate of $415.3 million by 0.7%. Further, the top line surged 58.6% from the year-ago quarter’s $263.7 million.
For 2019, the company’s revenues of $1,425.7 million exceeded the Zacks Consensus Estimate of $1,420 million by 0.4% and soared 52.1% from the year-ago quarter’s figure.
Operational Highlights
While SolarEdge shipped a total of 1.6 Gigawatts (AC) of inverters in the reported quarter, it shipped 5.6 Gigawatts (AC) of inverters in 2019.
Gross profit totaled $143.2 million, jumping 79.7% from $79.7 million a year ago.
Total operating expenses grew 66.3% year over year to $92.7 million, owing to higher research & development, sales & marketing and other operating expenses.
Operating income during the quarter was $50.5 million, up 111% from $24 million in the year-ago quarter.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
Financial Performance
SolarEdge had $223.9 million of cash and cash equivalents, as of Dec 31, 2019, up from $187.8 million at the end of 2018.
Cash flow from operating activities amounted to $259 million at 2019-end, up from $189.1 million a year ago.
Long-term liabilities were $246.2 million at the end of 2019 compared with $168 million as of Dec 31, 2018.
Guidance
For first-quarter 2020, SolarEdge expects to generate revenues of $425-$440 million. The Zacks Consensus Estimate for the same is pegged at $358.3 million, lower than the company’s guided range.
Additionally, revenues from solar products during the first quarter are projected between $405 million and $415 million.
While the company’s GAAP gross margins are expected to be 32-34%, gross margins from the sale of solar products are expected to be 33-35%.
Zacks Rank
SolarEdge currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Recent Solar Release
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2019 adjusted earnings of 39 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 18.2%. The bottom line also surged a massive 875% from 4 cents reported in the prior-year quarter.
Upcoming Solar Releases
Sunrun (RUN - Free Report) is set to release fourth-quarter results on Feb 27.
Vivint Solar is expected to post fourth-quarter 2019 results soon.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Zacks 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.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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