SolarEdge Announces First Quarter 2020 Financial Results
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SolarEdge Technologies (SEDG) Misses Q1 EPS by 30c, Revenues Beat; Offers 2Q Revenue Guidance Below Consensus
May 6, 2020 5:38 PM EDTSolarEdge Technologies (NASDAQ: SEDG) reported Q1 EPS of $0.95, $0.30 worse than the analyst estimate of $1.25. Revenue for the quarter came in at $431.2 million versus the consensus estimate of $420.35 million.
First Quarter 2020 Highlights
Record revenues of $431.2 millionRecord revenues from solar products of $407.6 millionGAAP gross margin of 32.5%GAAP gross margin from sale of solar products of 34.6%Non-GAAP gross margin from sale of solar products of 35.0%GAAP net income of $42.2 millionNon-GAAP net income of $50.7 millionGAAP net diluted earnings per share (EPS)... More