SolarEdge Technologies, Inc. (SEDG) reported a second-quarter 2024 adjusted loss of $1.79 per share, wider than the Zacks Consensus Estimate of a loss of $1.60. The bottom line also deteriorated from the prior-year quarter's reported earnings of $2.62 per share. Barring one-time adjustments, the company incurred a GAAP loss of $2.31 per share against GAAP earnings of $2.03 per share recorded in the year-ago period. The year-over-year deterioration in the bottom line can be attributed to significantly lower ...

Call Start: 16:30 January 1, 0000 5:58 PM ET SolarEdge Technologies, Inc. (NASDAQ:SEDG) Q2 2024 Earnings Conference Call August 7, 2024 16:30 ET Company Participants J.B. Lowe - Head of Investor Relations Zvi Lando - Chief Executive Officer Ronen Faier - Chief Financial Officer Conference Call Participants Philip Shen - ROTH Capital Partners Brian Lee - Goldman Sachs Mark Strouse - JPMorgan Colin Rusch - Oppenheimer Andrew Percoco - Morgan Stanley Dimple Gosai - Bank of America Jordan Levy - Truist Securiti ...

Investment Rating - The report maintains a **Neutral** rating for SolarEdge Technologies (SEDG US) with a target price of $100 [40] Core Views - SolarEdge's Q3 2024 revenue guidance of $260-290 million is significantly below the market consensus of $356 million, indicating a weaker-than-expected performance [1][2] - The company expects US channel inventory to normalize by the end of Q3 2024, while European inventory normalization is delayed until early 2025 [1][2] - SolarEdge anticipates a return to higher revenue levels by Q2 2025, with quarterly revenue expected to reach $550 million and a gross margin of 23% [2] Financial Performance - Q2 2024 revenue was $265.4 million, in line with consensus, driven by the solar segment, which contributed $241.1 million [2] - Non-GAAP gross margin for Q2 2024 was 0.2%, slightly better than the consensus of -1.1% [2] - The company reported a non-GAAP net loss of $101 million in Q2 2024, worse than the consensus loss of $91 million [1][2] - SolarEdge shipped 0.9GW of inverters in Q2 2024, down 8% quarter-over-quarter, while optimizer shipments increased by 100% to 2 million units [2] Inventory and Cash Flow - Inventory levels stood at $1.5 billion in Q2 2024, down from $1.55 billion in Q1 2024, with expectations to reduce to $1.3 billion by the end of 2024 [3] - The company expects cash burn of $70-90 million in Q3 2024, with positive cash flow anticipated by the first half of 2025 [3] Stock Repurchase and Impairment - SolarEdge repurchased 247,000 shares in Q2 2024, valued at $17 million, as part of a $300 million share repurchase program [2] - The company plans to conduct an impairment test on its assets in Q3 2024 [2] Market and Operational Challenges - European residential solar demand remained weak in Q2 2024, particularly in the Netherlands, with no acceleration expected in the commercial and industrial markets in the second half of the year [2] - The company faces challenges in managing inventory levels and achieving revenue growth amid market headwinds [1][2]

SolarEdge Technologies (SEDG) came out with a quarterly loss of $1.79 per share versus the Zacks Consensus Estimate of a loss of $1.60. This compares to earnings of $2.62 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -11.88%. A quarter ago, it was expected that this photovoltaic products maker would post a loss of $1.58 per share when it actually produced a loss of $1.90, delivering a surprise of -20.25%. Over the last four ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission File Number: 001-36894 SOLAREDGE TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 20-5338862 (State o ...

Exhibit 99.1 SolarEdge Announces Second Quarter 2024 Financial Results MILPITAS, Calif. — August 7, 2024. SolarEdge Technologies, Inc. (Nasdaq: SEDG), a global leader in smart energy technology, today announced its financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights • Revenues of $265.4 million • Revenues from solar segment of $241.2 million • GAAP gross margin of negative 4.1% • Non-GAAP gross margin1 of 0.2%, including 330 basis points of net IRA benefit • Gross ma ...

The most recent trading session ended with SolarEdge Technologies (SEDG) standing at $27.01, reflecting a +0.75% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.5%. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 1.28%. The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 7, 2024. In that re ...

SolarEdge Technologies (NASDAQ:SEDG) stock is down 90% from where it stood one year ago. Not only does it mean the business has fallen on hard times but there are likely few investors left after the rout. Still, if the dominoes fall into place as forecast and the bullish scenario plays out, don't hang on. Instead, view it as a chance to deploy your money else into more profitable ventures. SolarEdge's solar segment revenue started collapsing in the third quarter of 2023 and only worsened since. With first-q ...

SolarEdge issued downside guidance for Q2 2024 revenues of $250 million to $280 million versus $306.88 million consensus estimates. The company has been in the process of inventory clearing during typical seasonality. The spring season historically accelerates installations, and the company expects channel inventory to continue to decline as revenues improve. SolarEdge is focused on its suite of new products, which will be released in Q2 2024 and will position it for the next industry growth cycle. SolarEdg ...

Key Takeaways Downbeat news from SolarEdge (SEDG) weighed on solar-energy shares Monday, with stocks falling across the sector. Enphase Energy (ENPH) dropped more than 5%, while SunRun (RUN) tumbled 9%. The Invesco Solar Exchange-Traded Fund (TAN) fell nearly 6%. The pullback in solar shares came as the S&P 500's energy sector rose, lifted by shares of oil companies such as Chevron (CVX) and ExxonMobil (XOM). tips@investopedia.com Stocks fell broadly across the solar-energy sector Monday, weighed down by a ...