SolarEdge Technologies beats by $0.07, beats on revs; guides Q2 revs above consensus
- Reports Q1 (Mar) earnings of $0.64 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $0.57; revenues rose 29.5% year/year to $271.9 mln vs the $266.11 mln S&P Capital IQ Consensus.
- Non-GAAP gross margin was 32.8%, up from 30.9% in the prior quarter and down from 38.4% year over year.
- Co issues upside guidance for Q2, sees Q2 revs of $310-320 mln vs. $281.36 mln S&P Capital IQ Consensus.
- Gross margin expected to be within the range of 32% to 34%.