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SolarEdge (SEDG) Set to Post Q3 Earnings: What's in the Cards?
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SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report third-quarter 2022 results on Nov 7 after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 32.14%. SEDG has a trailing four-quarter negative earnings surprise of 12.01%, on average.
Factors to Note
Strong sales of commercial and residential inverters in the United States are anticipated to have benefitted SolarEdge’s overall top line.
Moreover, the residential and commercial segments of European countries must have aided the company’s sales growth in the third quarter, buoyed by its strong product portfolio and presence in the region.
On the product front, the strong demand for the SolarEdge residential battery globally is expected to have been reflected in the third-quarter top line. However, lower revenues from e-Mobility, mainly due to weak demand, may have dampened the sales performance partially in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $826.7 million, suggesting growth of 57.1% from the year-ago quarter’s reported number.
However, a negative impact of currency movements may have affected revenues from European countries, thus negatively impacting the bottom line. Also, a lower margin in the e-Mobility business, mainly due to lower volumes, may have hurt the bottom line of the company in the third quarter of 2022.
However, revenue growth is likely to have aided the margin performance in the soon-to-be-reported quarter. This may have benefited the bottom line of the company in the third quarter of 2022.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.45 per share, in line with the prior-year reported figure.
SolarEdge Technologies, Inc. Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for SEDG this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
SolarEdge has an Earnings ESP of -14.61% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are three companies from the same sector that you may want to consider as these have the right combination of elements to post an earnings beat this season:
Array Technologies, Inc. (ARRY - Free Report) currently has an Earnings ESP of +11.83% and a Zacks Rank #1. The Zacks Consensus Estimate for its third-quarter earnings is pegged at 12 cents per share, suggesting an improvement of 271.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Array’s third-quarter sales suggests year-over-year growth of 107.8% from the prior-year reported figure. ARRY has a four-quarter earnings surprise of 40.48%.
Gevo, Inc. (GEVO - Free Report) )currently has an Earnings ESP of +21.05% and a Zacks Rank #2. The Zacks Consensus Estimate for Gevo’s third-quarter sales suggests year-over-year growth of 818.6% from the prior-year reported figure.
In the last reported quarter, Gevo delivered an earnings surprise of 25%. It has a four-quarter average earnings surprise of 2.68%.
Helmerich & Payne, Inc. (HP - Free Report) currently has an Earnings ESP of +14.32% and a Zacks Rank #1. The Zacks Consensus Estimate for Helmerich’s third-quarter earnings implies a year-over-year improvement of 169.4% from the prior-year reported figure.
The Zacks Consensus Estimate for Helmerich’s third-quarter sales, pegged at $591.4 million, suggests a year-over-year improvement of 72% from the prior-year reported figure. HP delivered an earnings surprise of 440% in the last reported quarter.
Image: Bigstock
SolarEdge (SEDG) Set to Post Q3 Earnings: What's in the Cards?
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report third-quarter 2022 results on Nov 7 after the closing bell.
In the last reported quarter, the company delivered a negative earnings surprise of 32.14%. SEDG has a trailing four-quarter negative earnings surprise of 12.01%, on average.
Factors to Note
Strong sales of commercial and residential inverters in the United States are anticipated to have benefitted SolarEdge’s overall top line.
Moreover, the residential and commercial segments of European countries must have aided the company’s sales growth in the third quarter, buoyed by its strong product portfolio and presence in the region.
On the product front, the strong demand for the SolarEdge residential battery globally is expected to have been reflected in the third-quarter top line. However, lower revenues from e-Mobility, mainly due to weak demand, may have dampened the sales performance partially in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $826.7 million, suggesting growth of 57.1% from the year-ago quarter’s reported number.
However, a negative impact of currency movements may have affected revenues from European countries, thus negatively impacting the bottom line. Also, a lower margin in the e-Mobility business, mainly due to lower volumes, may have hurt the bottom line of the company in the third quarter of 2022.
However, revenue growth is likely to have aided the margin performance in the soon-to-be-reported quarter. This may have benefited the bottom line of the company in the third quarter of 2022.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.45 per share, in line with the prior-year reported figure.
SolarEdge Technologies, Inc. Price and EPS Surprise
SolarEdge Technologies, Inc. price-eps-surprise | SolarEdge Technologies, Inc. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for SEDG this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
SolarEdge has an Earnings ESP of -14.61% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are three companies from the same sector that you may want to consider as these have the right combination of elements to post an earnings beat this season:
Array Technologies, Inc. (ARRY - Free Report) currently has an Earnings ESP of +11.83% and a Zacks Rank #1. The Zacks Consensus Estimate for its third-quarter earnings is pegged at 12 cents per share, suggesting an improvement of 271.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Array’s third-quarter sales suggests year-over-year growth of 107.8% from the prior-year reported figure. ARRY has a four-quarter earnings surprise of 40.48%.
Gevo, Inc. (GEVO - Free Report) )currently has an Earnings ESP of +21.05% and a Zacks Rank #2. The Zacks Consensus Estimate for Gevo’s third-quarter sales suggests year-over-year growth of 818.6% from the prior-year reported figure.
In the last reported quarter, Gevo delivered an earnings surprise of 25%. It has a four-quarter average earnings surprise of 2.68%.
Helmerich & Payne, Inc. (HP - Free Report) currently has an Earnings ESP of +14.32% and a Zacks Rank #1. The Zacks Consensus Estimate for Helmerich’s third-quarter earnings implies a year-over-year improvement of 169.4% from the prior-year reported figure.
The Zacks Consensus Estimate for Helmerich’s third-quarter sales, pegged at $591.4 million, suggests a year-over-year improvement of 72% from the prior-year reported figure. HP delivered an earnings surprise of 440% in the last reported quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.