SEDG Stock Falls On Quarterly Earnings Miss


SolarEdge Technologies (SEDG) reported fourth-quarter financial results late Tuesday that fell short on earnings but beat on revenue. It’s one of three solar companies that report fourth-quarter results this week. SEDG stock fell.


The company said adjusted earnings were $1.10 a share on revenue of $551.9 million for the period ended Dec. 31. Analysts expected SolarEdge to report earnings of $1.31 on revenue of $549.4 million.

SEDG stock fell 0.8% to 160 during after-hours trading on the stock market today.

SEDG Stock: Revenue Outlook Tops Estimates

The company expects first-quarter revenue in the range of $615 million to $645 million. That’s above views for $578.6 million.

Israel-based SolarEdge supplies photovoltaic inverters for residential and commercial markets. Its products convert the direct current of a solar panel into alternating current.

“We are ending 2021 with record revenues for the quarter and for the year,” said Chief Executive Zvi Lando, in written remarks with the SolarEdge earnings news release. He added: “The global demand for solar energy across all segments and geographies is extremely strong and generating unprecedented demand for our products.”

Solar Earnings On Tap

Among other solar stocks, Enphase Energy (ENPH) reported fourth-quarter results on Feb. 8 that beat estimates. As a result, Enphase stock jumped 12% in reaction.

Meanwhile, SunPower (SPWR) will report fourth-quarter results late Wednesday. In October, SunPower announced restructuring plans to focus exclusively on residential solar. Additionally, the company set plans to sell its commercial and industrial business.

Also, Sunrun (RUN) reports its quarterly results late Thursday. It’s the largest residential solar, storage and energy services company in the U.S.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.


Renewable Energy Stocks Rally On Fresh Commitment To Zero Emissions

Solar Stocks Light Up On Prospect Of Green Energy Boom, More Stimulus

IBD 50 Stocks To Watch: Energy Stock Callon Petroleum Nears Buy Point Amid Higher Energy Prices

Unlock Premium Stock Lists, Investing Tools And Analysis

Source link