=SolarEdge (SEDG) reported earnings on Mon 2 Nov 20 (a/h)

 

SolarEdge Technologies beats by $0.36, misses on revs; guides Q4 revs below consensus 

Reports Q3 (Sep) earnings of $1.21 per share, excluding non-recurring items, $0.36 better than the S&P Capital IQ Consensus of $0.85; revenues fell 17.6% year/year to $338.1 mln vs the $342.36 mln S&P Capital IQ Consensus.

Co issues downside guidance for Q4, sees Q4 revs of $345-365 mln vs. $392.09 mln S&P Capital IQ Consensus.

"Our third quarter results reflect significant growth in Europe, despite the current economic slowdown caused by the global pandemic...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."