SolarEdge Technologies (SEDG) reported $991.29 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 36.2%. EPS of $2.62 for the same period compares to $0.95 a year ago.
The reported revenue represents a surprise of +0.21% over the Zacks Consensus Estimate of $989.17 million. With the consensus EPS estimate being $2.55, the EPS surprise was +2.75%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how SolarEdge performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Megawatts Shipped: 4324 MW versus the five-analyst average estimate of 3618.82 MW.
- Power Optimizers Shipped: 5531.37 thousand versus 8112.33 thousand estimated by three analysts on average.
- Inverters Shipped: 334.64 thousand versus the three-analyst average estimate of 326.55 thousand.
- Revenues- Solar: $947.40 million versus the five-analyst average estimate of $931.26 million.
- Revenues- All other: $43.73 million versus $37.58 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +9.2% change.
Shares of SolarEdge have returned -32.7% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report