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Mar 31, 2023
SolarEdge Q1 2023 Earnings Report
SolarEdge's Q1 2023 financial performance was marked by record revenues and earnings, driven by strong global presence and execution capabilities.
Key Takeaways
SolarEdge reported record revenues of $943.9 million, a 44% increase year-over-year, and record GAAP net income of $138.4 million. The company shipped 3.6 Gigawatts (AC) of inverters and 221 MWh of batteries.
Record revenues of $943.9 million achieved.
Solar segment revenues reached a record $908.5 million.
GAAP operating income was a record $144.2 million.
Non-GAAP net diluted EPS was a record $2.90.
Forward Guidance
For the second quarter of 2023, SolarEdge anticipates revenues between $970 million and $1,010 million, with non-GAAP gross margin expected to be within the range of 32% to 35% and non-GAAP operating profit to be within the range of $195 million to $215 million. Revenues from the solar segment are expected to be between $930 million and $980 million.
Positive Outlook
- Revenues to be within the range of $970 million to $1,010 million
- Non-GAAP gross margin expected to be within the range of 32% to 35%
- Non-GAAP operating profit to be within the range of $195 million to $215 million
- Revenues from the solar segment to be within the range of $930 million to $980 million
- Gross margin from the solar segment expected to be within the range of 34% to 37%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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