Solar power systems company SolarEdge (NASDAQ: SEDG) will be announcing earnings results tomorrow morning. Here’s what you need to know.
SolarEdge beat analysts’ revenue expectations by 4% last quarter, reporting revenues of $196.2 million, down 37.9% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ adjusted operating income estimates. It reported 895 megawatts shipped, flat year on year.
Is SolarEdge a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting SolarEdge’s revenue to be flat year on year at $204.5 million, improving from the 78.3% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.16 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SolarEdge has missed Wall Street’s revenue estimates three times over the last two years.
Looking at SolarEdge’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 2.3%, and Bloom Energy reported revenues up 38.6%, topping estimates by 11.9%. Generac’s stock price was unchanged after the resultswhile Bloom Energy was down 8.2%.
Read our full analysis of Generac’s results here and Bloom Energy’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 11.8% on average over the last month. SolarEdge is down 2.5% during the same time and is heading into earnings with an average analyst price target of $15.44 (compared to the current share price of $13.10).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
