SolarEdge Technologies SEDG 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 Quick Quote 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 is set to release fourth-quarter results on Feb 27. Vivint Solar VSLR 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>>