SolarEdge Technologies Inc earnings beat by $1.32, revenue topped estimates

SolarEdge Technologies Inc reported fourth quarter EPS of $2.86, $1.32 better than the analyst estimate of $1.54. Revenue for the quarter came in at $890.7M versus the consensus estimate of $878.94M.

Fourth Quarter 2022 Highlights

• Record revenues of $890.7 million
• Record revenues from solar segment of $837.0 million
• GAAP gross margin of 29.3%
• Non-GAAP gross margin of 30.2%
• Gross margin from solar segment of 32.4%
• GAAP operating loss of $5.2 million
• Record non-GAAP operating profit of $149.6 million
• GAAP net income of $20.8 million
• Record non-GAAP net income of $171.5 million
• GAAP net diluted earnings per share (“EPS”) of $0.36
• Record non-GAAP net diluted EPS of $2.86
• 3.14 Gigawatts (AC) of inverters shipped
• 217.6 MWh of batteries shipped