SolarEdge Technologies (NASDAQ: SEDG) reported Q3 EPS of $1.21, $0.39 better than the analyst estimate of $0.82. Revenue for the quarter came in at $338.1 million versus the consensus estimate of $342.33 million.

“Our third quarter results reflect significant growth in Europe, despite the current economic slowdown caused by the global pandemic,” said Zivi Lando, CEO of SolarEdge. “Our solar business outside the U.S. reached an all-time high and the U.S. market is showing signs of return to pre-pandemic installation levels. In our non-solar business, our e-Mobility team is gearing up to deliver to our customer the first significant batch of full powertrain solutions for assembly in electric vehicles in the fourth quarter. In addition to continuing to generate significant cash from operations this quarter, we raised $618 million, net of expenses, in convertible debt providing additional support for our continued organic and non-organic growth.”

GUIDANCE:

SolarEdge Technologies sees Q4 2020 revenue of $345-365 million, versus the consensus of $389.6 million.

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