SolarEdge Technologies (SEDG) Tops Q2 EPS by 1c

SolarEdge Technologies (NASDAQ: SEDG) reported Q2 EPS of $0.70, $0.01 better than the analyst estimate of $0.69. Revenue for the quarter came in at $331.9 million versus the consensus estimate of $319.42 million.

“This quarter, despite the challenges caused by COVID 19, we maintained healthy profitability while generating cash from operating activity,” said Zivi Lando, CEO of SolarEdge. “Our global strength, and in particular our loyal customer base in the Netherlands, Germany, Italy and Australia, softened the decline in U.S. demand this past quarter. While the pandemic has created many operational challenges, I am confident in our financial strength and grateful for the trust of our customers and dedication of our employees which enable us to continue to focus on product innovation and execution of our long term plans even in these challenging times.”

GUIDANCE:

SolarEdge Technologies sees Q3 2020 revenue of $325-350 million, versus the consensus of $330.8 million.

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

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