SolarEdge Technologies, Inc. SEDG reported third-quarter 2020 adjusted earnings of $1.21 per share, which surpassed the Zacks Consensus Estimate of 82 cents by 47.6%. The bottom line, moreover, rose 24.7% from 97 cents in the prior-year quarter.Barring one-time adjustments, the company posted GAAP earnings of 83 cents per share compared with 81 cents in the year-ago quarter.RevenuesSolarEdge’s revenues of $338.1 million in the third quarter missed the Zacks Consensus Estimate of $342 million by 1.1%. The top line also declined 17.7% from the year-ago quarter’s $410.6 million.Operational HighlightsSolarEdge shipped a total of 1.45 Gigawatts (AC) of inverters in the reported quarter.Gross profit totaled $108.1 million, declining 22.4% from $139.3 million a year ago.Total operating expenses rose 6% year over year to $77.7 million. The increase can be attributed to higher research & development and general & administrative expenses.Operating income during the quarter totaled $30.4 million, down 54% from $66 million in the year-ago quarter.SolarEdge Technologies, Inc. Price, Consensus and EPS Surprise SolarEdge Technologies, Inc. price-consensus-eps-surprise-chart | SolarEdge Technologies, Inc. QuoteFinancial PerformanceSolarEdge had $1,048.1 million of cash and cash equivalents as of Sep 30, 2020, up from $233.9 million at the end of 2019.Cash flow from operating activities amounted to $195.4 million at the end of third-quarter 2020, up from $175.9 million a year ago.Long-term liabilities were $863.7 million at the end of the third quarter compared with $246.2 million as of Dec 31, 2019.Q4 GuidanceFor fourth-quarter 2020, SolarEdge expects revenues of $345-$365 million compared with the previous guidance range of $325-$350 million. The Zacks Consensus Estimate for the same is pegged at $400.8 million, higher than the company’s guidance range.Additionally, revenues from solar products in the third quarter are projected to be $320-$335 million.While the company’s non-GAAP gross margin is expected to be 32-34%, gross margin from the sale of solar products is anticipated to be 34-36%.Zacks RankSolarEdge currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Solar ReleasesEnphase Energy ENPH reported third-quarter 2020 adjusted earnings of 30 cents per share, which surpassed the Zacks Consensus Estimate of 24 cents by 25%.First Solar FSLR reported third-quarter 2020 adjusted earnings of $1.45 per share, which surpassed the Zacks Consensus Estimate of 60 cents by 141.7%.SunPower Corp. SPWR incurred an adjusted loss of 4 cents per share in third-quarter 2020, narrower than the Zacks Consensus Estimate of a loss of 5 cents.Legal Marijuana: An Investor’s DreamImagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis Report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research