We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported fourth-quarter adjusted earnings of $2.86 per share, which surpassed the Zacks Consensus Estimate of $1.60 by 78.8%. The bottom line however declined 160% from the prior-year quarter’s $1.10 per share.
Barring one-time adjustments, the company posted GAAP earnings of 36 cents per share compared with 74 cents in the year-ago quarter.
For 2022, the company reported adjusted earnings of $5.95 per share, up from $4.81 in 2021. The full-year bottom line also surpassed the Zacks Consensus Estimate of $4.80.
Revenues
SolarEdge’s fourth-quarter revenues of $890.7 million surpassed the Zacks Consensus Estimate of $875 million by 1.8%. The top line surged 61.4% from the year-ago quarter’s $551.9 million.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
In 2022, the company recorded revenues worth $3.11 billion, up from $1.96 billion in 2021. The full-year revenues also surpassed the Zacks Consensus Estimate of $3.10 billion.
Revenues from the solar segment were $837 million in the fourth quarter, up 66% from $502.7 million in the prior-year quarter.
Operational Highlights
SolarEdge shipped a total of 3.1 gigawatts of inverters and 217.6 megawatt-hours of batteries in the reported quarter.
The adjusted gross margin contracted 100 basis points from the prior-year figure of 30.3% to 30.2%.
Adjusted operating expenses went up 26% year over year to $119 million.
The adjusted operating income in the quarter totaled $171.5 million, up 105% from the year-ago quarter’s $72.9 million.
Financial Performance
SolarEdge had $783.1 million of cash and cash equivalents as of Dec 31, 2022, up from $530.1 million as of Dec 31, 2021.
The cash flow from operating activities amounted to $31.3 million during 2022 compared with $214.1 million in the year-ago period.
Total long-term liabilities were $1,199.9 million as of Dec 31, 2022 compared with $1,065.7 million as of Dec 31, 2021.
Q1 Guidance
In the first quarter of 2023, SEDG expects revenues in the range of $915-$945 million. The Zacks Consensus Estimate for the same is pegged at $902.8 million, lower than the guided range.
Revenues from the solar segment in the first quarter are projected in the range of $875-$905 million.
While the company’s adjusted gross margin is estimated in the range of 28-31%, the gross margin in the solar segment is anticipated in the band of 31-34%.
The company expects adjusted operating profit in the range of $150-$170 million.
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.51 per share, which improved by a solid 106.8% from 73 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of $1.27 by 18.9%.
Enphase Energy’s fourth-quarter revenues of $724.7 million beat the Zacks Consensus Estimate of $704 million by 2.9%. The top line soared 75.6% from the year-ago quarter’s $412.7 million, driven by strong demand for its Enphase Energy Systems.
Upcoming Solar Releases
SunPower Corporation is scheduled to release fourth-quarter 2022 results on Feb 15. SunPower has a four-quarter negative earnings surprise of 79.58%, on average.
The Zacks Consensus Estimate for SPWR’s fourth-quarter earnings, pegged at 14 cents per share, implies growth of 300% from the fiscal fourth-quarter 2021 figure. The Zacks Consensus Estimate for SunPower’s fourth-quarter sales is pegged at $494.3 million, implying growth of 28.6% from the prior-year quarter’s figure.
First Solar, Inc. (FSLR - Free Report) is slated to report fourth-quarter 2022 results soon. First Solar has a trailing four-quarter negative earnings surprise of 2.93%, on average.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $997.4 million, indicating an increase of 9.9% from the year-ago reported figure. The Zacks Consensus Estimate for First Solar’s fourth-quarter earnings is pegged at a loss of 18 cents per share, indicating a decline from the year-ago quarter’s tally.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SolarEdge's (SEDG) Q4 Earnings Beat, Revenues Rise Y/Y
SolarEdge Technologies, Inc. (SEDG - Free Report) reported fourth-quarter adjusted earnings of $2.86 per share, which surpassed the Zacks Consensus Estimate of $1.60 by 78.8%. The bottom line however declined 160% from the prior-year quarter’s $1.10 per share.
Barring one-time adjustments, the company posted GAAP earnings of 36 cents per share compared with 74 cents in the year-ago quarter.
For 2022, the company reported adjusted earnings of $5.95 per share, up from $4.81 in 2021. The full-year bottom line also surpassed the Zacks Consensus Estimate of $4.80.
Revenues
SolarEdge’s fourth-quarter revenues of $890.7 million surpassed the Zacks Consensus Estimate of $875 million by 1.8%. The top line surged 61.4% from the year-ago quarter’s $551.9 million.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
SolarEdge Technologies, Inc. price-consensus-eps-surprise-chart | SolarEdge Technologies, Inc. Quote
In 2022, the company recorded revenues worth $3.11 billion, up from $1.96 billion in 2021. The full-year revenues also surpassed the Zacks Consensus Estimate of $3.10 billion.
Revenues from the solar segment were $837 million in the fourth quarter, up 66% from $502.7 million in the prior-year quarter.
Operational Highlights
SolarEdge shipped a total of 3.1 gigawatts of inverters and 217.6 megawatt-hours of batteries in the reported quarter.
The adjusted gross margin contracted 100 basis points from the prior-year figure of 30.3% to 30.2%.
Adjusted operating expenses went up 26% year over year to $119 million.
The adjusted operating income in the quarter totaled $171.5 million, up 105% from the year-ago quarter’s $72.9 million.
Financial Performance
SolarEdge had $783.1 million of cash and cash equivalents as of Dec 31, 2022, up from $530.1 million as of Dec 31, 2021.
The cash flow from operating activities amounted to $31.3 million during 2022 compared with $214.1 million in the year-ago period.
Total long-term liabilities were $1,199.9 million as of Dec 31, 2022 compared with $1,065.7 million as of Dec 31, 2021.
Q1 Guidance
In the first quarter of 2023, SEDG expects revenues in the range of $915-$945 million. The Zacks Consensus Estimate for the same is pegged at $902.8 million, lower than the guided range.
Revenues from the solar segment in the first quarter are projected in the range of $875-$905 million.
While the company’s adjusted gross margin is estimated in the range of 28-31%, the gross margin in the solar segment is anticipated in the band of 31-34%.
The company expects adjusted operating profit in the range of $150-$170 million.
Zacks Rank
SolarEdge currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Recent Solar Release
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.51 per share, which improved by a solid 106.8% from 73 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of $1.27 by 18.9%.
Enphase Energy’s fourth-quarter revenues of $724.7 million beat the Zacks Consensus Estimate of $704 million by 2.9%. The top line soared 75.6% from the year-ago quarter’s $412.7 million, driven by strong demand for its Enphase Energy Systems.
Upcoming Solar Releases
SunPower Corporation is scheduled to release fourth-quarter 2022 results on Feb 15. SunPower has a four-quarter negative earnings surprise of 79.58%, on average.
The Zacks Consensus Estimate for SPWR’s fourth-quarter earnings, pegged at 14 cents per share, implies growth of 300% from the fiscal fourth-quarter 2021 figure. The Zacks Consensus Estimate for SunPower’s fourth-quarter sales is pegged at $494.3 million, implying growth of 28.6% from the prior-year quarter’s figure.
First Solar, Inc. (FSLR - Free Report) is slated to report fourth-quarter 2022 results soon. First Solar has a trailing four-quarter negative earnings surprise of 2.93%, on average.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $997.4 million, indicating an increase of 9.9% from the year-ago reported figure. The Zacks Consensus Estimate for First Solar’s fourth-quarter earnings is pegged at a loss of 18 cents per share, indicating a decline from the year-ago quarter’s tally.