We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SolarEdge (SEDG) to Report Q2 Earnings: What's in the Cards?
Read MoreHide Full Article
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report second-quarter 2023 results on Aug 1, after market close.
In the last reported quarter, the company delivered an earnings surprise of 46.46%. SEDG has a trailing four-quarter average earnings surprise of 14.18%.
Factors to Note
Thanks to growing solar demand, increasing shipment of the company’s DC-optimized inverters as well as residential batteries is likely to have boosted SolarEdge’s overall second-quarter top-line performance.
SolarEdge Technologies, Inc. Price and EPS Surprise
Regionwise, the company is expected to have recorded solid sales growth from Europe, following the recent rise in shipments of three phase residential inverters in this region. Also, strong growth from Asia-Pacific region, particularly from Japan, might have bolstered SEDG’s revenues, outweighing the weak sales prospects offered by the U.S. solar residential market.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $989.2 million, indicating growth of 35.9% year over year.
Solid revenue growth is likely to have benefited the company’s bottom line in the second quarter of 2023.
Further, improvements in SolarEdge’s shipping and logistics cost, driven by stabilized component availability and manufacturing, are expected to have resulted in lower charges from its contract manufacturers. This might have contributed favorably toward SEDG’s earnings in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $2.55 per share, indicating an improvement of 168.4% from the prior-year quarter’s reported figure.
What the Zacks Model Unveils
Our proven model predicts 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.
Earnings ESP: SolarEdge’s Earnings ESP is +4.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three other solar companies that you may want to consider as these too have the right combination of elements to post an earnings beat this reporting cycle.
Enphase Energy (ENPH - Free Report) currently has an Earnings ESP of +0.88% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings is pegged at $1.27 per share, indicating an improvement of 18.7% from the year-ago quarter’s level.
The consensus estimate for sales indicates year-over-year growth of 37.1%. ENPH has a trailing four-quarter average earnings surprise of 19.47%.
Sunrun (RUN - Free Report) currently has an Earnings ESP of +61.42% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter sales is pegged at $621.9 million, indicating growth of 6.4% year over year.
The bottom-line estimate is pinned at a loss of 34 cents per share, indicating a deterioration from the year-ago quarter’s reported loss of 6 cents. The estimate has deteriorated over the past 90 days.
First Solar (FSLR - Free Report) currently has an Earnings ESP of +0.16% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter sales indicates growth of 18.8% from the prior-year quarter’s reported figure.
The consensus mark for earnings is pegged at 95 cents per share, indicating an improvement of 82.7% from the year-ago quarter’s reported number. FSLR has a four-quarter negative earnings surprise of 6.29%, on average.
Image: Bigstock
SolarEdge (SEDG) to Report Q2 Earnings: What's in the Cards?
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report second-quarter 2023 results on Aug 1, after market close.
In the last reported quarter, the company delivered an earnings surprise of 46.46%. SEDG has a trailing four-quarter average earnings surprise of 14.18%.
Factors to Note
Thanks to growing solar demand, increasing shipment of the company’s DC-optimized inverters as well as residential batteries is likely to have boosted SolarEdge’s overall second-quarter top-line performance.
SolarEdge Technologies, Inc. Price and EPS Surprise
SolarEdge Technologies, Inc. price-eps-surprise | SolarEdge Technologies, Inc. Quote
Regionwise, the company is expected to have recorded solid sales growth from Europe, following the recent rise in shipments of three phase residential inverters in this region. Also, strong growth from Asia-Pacific region, particularly from Japan, might have bolstered SEDG’s revenues, outweighing the weak sales prospects offered by the U.S. solar residential market.
The Zacks Consensus Estimate for second-quarter revenues is pegged at $989.2 million, indicating growth of 35.9% year over year.
Solid revenue growth is likely to have benefited the company’s bottom line in the second quarter of 2023.
Further, improvements in SolarEdge’s shipping and logistics cost, driven by stabilized component availability and manufacturing, are expected to have resulted in lower charges from its contract manufacturers. This might have contributed favorably toward SEDG’s earnings in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $2.55 per share, indicating an improvement of 168.4% from the prior-year quarter’s reported figure.
What the Zacks Model Unveils
Our proven model predicts 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.
Earnings ESP: SolarEdge’s Earnings ESP is +4.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to Consider
Here are three other solar companies that you may want to consider as these too have the right combination of elements to post an earnings beat this reporting cycle.
Enphase Energy (ENPH - Free Report) currently has an Earnings ESP of +0.88% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings is pegged at $1.27 per share, indicating an improvement of 18.7% from the year-ago quarter’s level.
The consensus estimate for sales indicates year-over-year growth of 37.1%. ENPH has a trailing four-quarter average earnings surprise of 19.47%.
Sunrun (RUN - Free Report) currently has an Earnings ESP of +61.42% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter sales is pegged at $621.9 million, indicating growth of 6.4% year over year.
The bottom-line estimate is pinned at a loss of 34 cents per share, indicating a deterioration from the year-ago quarter’s reported loss of 6 cents. The estimate has deteriorated over the past 90 days.
First Solar (FSLR - Free Report) currently has an Earnings ESP of +0.16% and a Zacks Rank #3. The Zacks Consensus Estimate for second-quarter sales indicates growth of 18.8% from the prior-year quarter’s reported figure.
The consensus mark for earnings is pegged at 95 cents per share, indicating an improvement of 82.7% from the year-ago quarter’s reported number. FSLR has a four-quarter negative earnings surprise of 6.29%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.