Solaredge Technologies Inc reports results for the quarter ended June 30 - Earnings Summary

• Solaredge Technologies Inc SEDG reported a quarterly adjusted loss of 81 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $-1.79. The mean expectation of twenty six analysts for the quarter was for a loss of 86 cents per share. Wall Street expected results to range from $-1.11 to -53 cents per share.

• Revenue rose 9.1% to $289.43 million from a year ago; analysts expected $273.92 million.

• Solaredge Technologies Inc's reported EPS for the quarter was a loss of $2.13​.

• The company reported a quarterly loss of $124.74 million.

• Solaredge Technologies Inc shares had risen by 26.4% this quarter and gained 89.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2.1% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 22 "hold" and 9 "sell" or "strong sell." The average consensus recommendation for the renewable energy equipment & services peer group is "buy."

• Wall Street's median 12-month price target for Solaredge Technologies Inc is $18.00, about 43.3% below its last closing price of $25.79

This summary was machine generated from LSEG data August 7 at 05:10 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)