SolarEdge Stock Plummets After Mixed Q4 Results
Portfolio Pulse from Erica Kollmann
SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported mixed Q4 results with earnings beating analyst expectations but sales missing estimates and showing a significant year-over-year decrease. The company anticipates Q1 revenue to be between $175 million to $215 million, with the solar segment's gross margin expected to be 1% to 5%, factoring in a net IRA manufacturing tax credit. Shares dropped 17.5% in after-hours trading.
February 20, 2024 | 9:40 pm
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SolarEdge reported mixed Q4 results, with earnings surpassing expectations but sales missing forecasts and declining significantly from the previous year. The company's Q1 revenue outlook is cautious, and shares fell sharply after the announcement.
The mixed Q4 results, with better-than-expected earnings but disappointing sales and a significant year-over-year decline, signal potential challenges ahead for SolarEdge. The cautious Q1 revenue outlook, combined with the after-hours stock price drop, suggests a negative short-term impact on the stock. The significant after-hours price movement reflects immediate investor reaction to the earnings report and outlook, indicating high relevance and importance of this news for investors.
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