Benzinga | Aug 2, 2021 05:24PM EDT

Recap: SolarEdge Technologies Q2 Earnings

Shares of SolarEdge Technologies (NASDAQ:SEDG) rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 31.96% over the past year to $1.28, which beat the estimate of $1.12.

Revenue of $480,057,000 rose by 44.66% from the same period last year, which beat the estimate of $454,690,000.

Guidance

SolarEdge Sees Q3 Sales $520M-$540M vs $504.7M Estimate

Details Of The Call

Date: Aug 02, 2021

Time: 04:30 PM

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

Recent Stock Performance

Company's 52-week high was at $377.00

52-week low: $162.60

Price action over last quarter: Up 31.30%

Company Profile

SolarEdge Technologies designs, develops, and sells direct current optimized inverter systems for solar photovoltaic 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. Additionally, the company has nonsolar products targeting the energy storage, e-mobility, and ultracritical power solutions industries.