SolarEdge Technologies, Inc. SEDG reported a fourth-quarter 2024 adjusted loss of $3.52 per share, wider than the Zacks Consensus Estimate of a loss of $1.57. The bottom line also deteriorated from the prior-year quarter’s loss of 92 cents per share.
See the Zacks Earnings Calendar to stay ahead of market-making news.
Barring one-time adjustments, the company incurred a GAAP loss of $5 per share compared with a GAAP loss of $2.85 in the year-ago period.
The year-over-year deterioration in the bottom line can be attributed to significantly lower revenues and higher financial expenses incurred in the fourth quarter compared with the prior-year quarter.
For 2024, the company incurred an adjusted loss of $22.99 per share, which was wider than the Zacks Consensus Estimate of a loss of $20.65. The full-year bottom line also deteriorated from the prior-year earnings of $4.12 per share.
SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise
SolarEdge Technologies, Inc. price-consensus-eps-surprise-chart | SolarEdge Technologies, Inc. Quote
SEDG’s Revenues
The company’s revenues of $196.2 million surpassed the Zacks Consensus Estimate by 5.3%. However, the top line declined 37.9% from the year-ago quarter’s figure of $316 million.
For 2024, the company generated revenues worth $0.90 billion, significantly below the prior-year figure of $2.98 billion. The full-year top line also missed the Zacks Consensus Estimate of $0.94 billion.
SEDG’s Operational Highlights
SolarEdge Technologies shipped a total of 895 megawatts of inverters and 130 megawatt-hours of batteries in the quarter.
The company incurred an adjusted gross loss of $77.3 million against an adjusted gross profit of $10.5 million in the prior-year period.
Adjusted operating expenses declined 9.7% year over year to $106.8 million.
The company incurred an adjusted operating loss of $184.1 million compared with an operating loss of $107.8 million in the prior-year quarter.
SEDG’s Financial Performance
As of Dec. 31, 2024, SolarEdge Technologies had cash and cash equivalents worth $274.6 million compared with $338.5 million as of Dec. 31, 2023.
The cash outflow from operating activities during 2024 amounted to $313.3 million compared with $180.1 million recorded a year ago.
As of Dec. 31, 2024, total long-term liabilities were $0.93 billion, 27.4% lower than the figure reported at 2023-end.
SEDG’s Q1 2025 Guidance
SEDG expects revenues to be in the range of $195-$215 million for the first quarter of 2025. The Zacks Consensus Estimate for the same is pegged at $219.2 million, which is higher than the company’s guided range.
Adjusted operating expenses are projected to be in the range of $98-$103 million, while adjusted gross margin is expected to be between 6% and 10%.
SEDG’s Zacks Rank
SolarEdge currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Recent Solar Release
Enphase Energy, Inc. ENPH reported fourth-quarter 2024 adjusted earnings of 94 cents per share, which increased 74.1% from 54 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of 75 cents by 25.3%.
Enphase Energy’s revenues of $382.7 million beat the Zacks Consensus Estimate of $376 million by 1.8%. The top line also increased 26.5% from the prior-year quarter’s figure of $302.6 million.
Upcoming Releases
Here are some other companies from the same industry that are set to report their fourth-quarter results soon.
First Solar, Inc. FSLR is scheduled to report fourth-quarter results on Feb. 25, 2025. The Zacks Consensus Estimate for FSLR’s earnings is pegged at $4.69 per share, which indicates year-over-year growth of 44.3%.
The consensus estimate for sales is pegged at $1.47 billion, which indicates year-over-year growth of 26.9%.
Sunnova Energy International NOVA is set to report fourth-quarter 2024 results on March 3. The Zacks Consensus Estimate for NOVA’s earnings is pegged at a loss of 81 cents per share.
The consensus estimate for sales is pegged at $234.5 million, which indicates year-over-year growth of 20.8%.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>First Solar, Inc. (FSLR) : Free Stock Analysis Report
Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
Sunnova Energy International Inc. (NOVA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
