Earnings Recap: SolarEdge Technologies, Inc. (NASDAQ: SEDG)

On Tuesday, Shares of SolarEdge Technologies, Inc. (NASDAQ: SEDG) showed the bullish trend with a higher momentum of 1.21% and ended its trading session at $54.30. The company traded total volume of 916.23K shares as contrast to its average volume of 1.23M shares. The company has a market value of $2.40B and about 44.23M shares outstanding. During the 52-week trading session, the minimum price at which share price traded was registered at $20.52 and reached the max level of $70.74.

SolarEdge Technologies, Inc. (SEDG), a global leader in PV inverters, power optimizers, and module-level monitoring services, recently declared its financial results for the first quarter ended March 31, 2018.

First Quarter 2018 Summary:

The Company stated record revenues of $209.90M, up 11% from $189.30M in the prior quarter and up 82% from $115.10M year over year. GAAP gross margin reached 37.9%, up from 37.5%, in the prior quarter and up from 33.6% year over year.

GAAP operating expenses was $38.80M, up 7% from $36.40M in the prior quarter and up 45% from $26.70M year over year.

GAAP operating income was $40.80M, up 18% from $34.60M in the prior quarter and up 240% from $12.00M year over year.

GAAP net income was $35.70M, up 83% from $19.50M in the prior quarter and up 152% from $14.20M year over year.

Non-GAAP net income was $42.60M, up 3% from $41.20M in the prior quarter and up 159% from $16.50M year over year.

GAAP net diluted earnings per share (“EPS”) was $0.75, up from $0.42 in the prior quarter and up from $0.32 year over year.

Non-GAAP net diluted EPS was $0.87, up from $0.85 in the prior quarter and up from $0.36 year over year.

Cash flow from operating activities was $64.00M, up from $45.80M in the prior quarter and up from $25.70M year over year.

As of March 31, 2018, cash, cash equivalents, restricted cash and marketable securities totaled $400.80M, contrast to $345.10M on December 31, 2017.

Outlook for the Second Quarter 2018:

The Company also provides guidance for the second quarter ending June 30, 2018 as follows:

  • Revenues to be within the range of $220.0M to $230.0M;
  • Gross margins expected to remain flat within the range of 36% to 38%.

The Company offered net profit margin of 15.10% while its gross profit margin was 36.40%. ROE was recorded as 27.40% while beta factor was -0.53. The stock, as of recent close, has shown the weekly upbeat performance of 13.48% which was maintained at 44.61% in this year.

Michelle Smith

Michelle Smith

I am Michelle Smith and I give “Stocks Market Cap” an insight into the most recent news hitting the “Technology” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.