Benzinga | Nov 2, 2020 04:28PM EST

SolarEdge Technologies: Q3 Earnings Insights

Shares of SolarEdge Technologies (NASDAQ:SEDG) fell 13.16% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were flat 0.00% year over year to $1.21, which beat the estimate of $0.81.

Revenue of $338,095,000 declined by 17.65% year over year, which missed the estimate of $341,880,000.

Looking Ahead

SolarEdge Sees Q4 Sales $345M-$365M vs $389.57M Est..

Conference Call Details

Date: Nov 02, 2020

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/j7pdgm78

Technicals

52-week high: $317.88

52-week low: $67.02

Price action over last quarter: Up 36.49%

Company Description

SolarEdge Technologies Inc together with its subsidiaries designs develops and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations. The company system consists of power optimizers, inverters, and cloud-based monitoring platform and addresses a broad range of solar market segments, from residential solar installations to commercial and small utility-scale solar installations. The company sells its products directly to solar installers, engineering, procurement, and construction firms and indirectly to solar installers through distributors and electrical equipment wholesalers.