Earnings

SolarEdge tumbles on weak first quarter guidance

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A SolarEdge Technologies logo is seen on a smartphone and a PC.

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SolarEdge‘s stock tumbled Tuesday after the company gave weak guidance for the first quarter.

SolarEdge expects revenues of $175 million to $215 million for the first three months of 2024, well below Wall Street’s expectations of $406 million. The company shares fell as much as 18% in extended trading.

Here’s what SolarEdge reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

  • Loss per share: 92 cents adjusted, vs. $1.17 expected.
  • Revenues: $316 million, vs. $354 million…



Source cnbc.com

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