SolarEdge Technologies (SEDG) Tops Q3 EPS by 4c, Revenues Beat; FY18 Revenue Outlook Above Consensus

SolarEdge Technologies (NASDAQ: SEDG) reported Q3 EPS of $0.86, $0.04 better than the analyst estimate of $0.82. Revenue for the quarter came in at $236.6 million versus the consensus estimate of $234.18 million.

• Record revenues of $236.6 million, up 42% year-over-year
• GAAP net income of $45.6 million
• GAAP net diluted EPS of $0.95
• Non-GAAP net diluted EPS of $0.86
• 1,083 Megawatts (AC) of inverters shipped

“This quarter we continued to grow our revenues and market share,” said Guy Sella, Founder, Chairman and CEO of SolarEdge. “We shipped 1.1GW of systems and delivered over three million power optimizers, with record high shipments of commercial products.”

“While continuing to expand our existing business, we closed the asset acquisition of a new UPS division, Gamatronic. In the first weeks of October, we also signed and closed the Kokam acquisition which will expand our smart energy offerings, adding proven battery storage options to our product portfolio. These acquisitions will take us a further step toward offering full solutions that are more comprehensive, smarter and beneficial.”

GUIDANCE:

SolarEdge Technologies sees Q4 2018 revenue of $245-255 million, versus the consensus of $219.71 million.

For earnings history and earnings-related data on SolarEdge Technologies (SEDG) click here.

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