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SolarEdge Technologies (SEDG - Free Report) reported third-quarter 2018 earnings of 86 cents per share, beating the Zacks Consensus Estimate of 84 cents by 2.4%. The reported number improved 30.3% from the prior-year quarter’s 66 cents.
Revenues
Solar Edge’s revenues of $236.6 million in the quarter surpassed the Zacks Consensus Estimate of $234 million by 1.1%. Revenues also surged 41.7% from the year-ago quarter’s $167 million.
Operational Highlights
During the third quarter of 2018, SolarEdge shipped a total of 1,083 Megawatts (AC) of inverters.
Gross profit was $77.98 million, up approximately 34.3% from $58 million a year ago.
Total operating expenses increased 34.6% year over year to $43.9 million due to higher research and development, sales and marketing, and general and administrative expenses.
Operating income during the quarter was $34 million, up approximately 34% from $25.4 million in the year-ago quarter.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
SolarEdge had $192.9 million of cash and cash equivalents, as of Sep 30, 2018, up from $163.2 million at the end of 2017.
Cash flow from operating activities was $ 34.3 million, up from $33.7 million a year ago.
Long-term liabilities were $147.1 million at the end of the quarter compared with $114.1 million as of Dec 31, 2017.
2018 Guidance
SolarEdge expects to generate revenues in the range of $245-$255 million, for 2018.
The company’s GAAP gross margins are expected to be 30-32%, depending on the effects of recent M&A, while adjusted gross margins are expected to be 32-34%.
Zacks Rank
SolarEdge Technologies currently carries a Zacks Rank #4 (Sell).
SunPower Corp. incurred third-quarter 2018 adjusted loss of 29 cents per share, narrower than the Zacks Consensus Estimate of a loss of 45 cents. The company carries a Zacks Rank #3.
Upcoming Solar Releases
Canadian Solar (CSIQ - Free Report) is expected to release third-quarter 2018 results on Nov 15. The company carries a Zacks Rank #3.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
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SolarEdge (SEDG) Q3 Earnings Beat, Revenues Increase Y/Y
SolarEdge Technologies (SEDG - Free Report) reported third-quarter 2018 earnings of 86 cents per share, beating the Zacks Consensus Estimate of 84 cents by 2.4%. The reported number improved 30.3% from the prior-year quarter’s 66 cents.
Revenues
Solar Edge’s revenues of $236.6 million in the quarter surpassed the Zacks Consensus Estimate of $234 million by 1.1%. Revenues also surged 41.7% from the year-ago quarter’s $167 million.
Operational Highlights
During the third quarter of 2018, SolarEdge shipped a total of 1,083 Megawatts (AC) of inverters.
Gross profit was $77.98 million, up approximately 34.3% from $58 million a year ago.
Total operating expenses increased 34.6% year over year to $43.9 million due to higher research and development, sales and marketing, and general and administrative expenses.
Operating income during the quarter was $34 million, up approximately 34% from $25.4 million in the year-ago quarter.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise | SolarEdge Technologies, Inc. Quote
Financial Performance
SolarEdge had $192.9 million of cash and cash equivalents, as of Sep 30, 2018, up from $163.2 million at the end of 2017.
Cash flow from operating activities was $ 34.3 million, up from $33.7 million a year ago.
Long-term liabilities were $147.1 million at the end of the quarter compared with $114.1 million as of Dec 31, 2017.
2018 Guidance
SolarEdge expects to generate revenues in the range of $245-$255 million, for 2018.
The company’s GAAP gross margins are expected to be 30-32%, depending on the effects of recent M&A, while adjusted gross margins are expected to be 32-34%.
Zacks Rank
SolarEdge Technologies currently carries a Zacks Rank #4 (Sell).
First Solar Inc. (FSLR - Free Report) reported third-quarter 2018 earnings of 54 cents per share, beating the Zacks Consensus Estimate of 45 cents by 20%. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SunPower Corp. incurred third-quarter 2018 adjusted loss of 29 cents per share, narrower than the Zacks Consensus Estimate of a loss of 45 cents. The company carries a Zacks Rank #3.
Upcoming Solar Releases
Canadian Solar (CSIQ - Free Report) is expected to release third-quarter 2018 results on Nov 15. The company carries a Zacks Rank #3.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>