SolarEdge Technologies (SEDG) Tops Q3 EPS by 8c

SolarEdge Technologies (NASDAQ: SEDG) reported Q3 EPS of $1.45, $0.08 better than the analyst estimate of $1.37. Revenue for the quarter came in at $526.4 million versus the consensus estimate of $529.62 million.

“We are pleased with our record revenues in the third quarter amid the unprecedented global logistics and supply chain challenges,” said Zvi Lando, Chief Executive Officer of SolarEdge. “Despite a twelve week covid-related shutdown in our Vietnam manufacturing facility during the quarter, we were able to supply products to meet the growing demand of our customers. We are exiting the third quarter with record backlog for the fourth quarter of 2021 and the first quarter of 2022 and will continue navigating the various challenges in order to support our customers’ businesses.”

GUIDANCE:

SolarEdge Technologies sees Q4 2021 revenue of $530-560 million, versus the consensus of $553.33 million.

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

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