SolarEdge Technologies Sees Q1 2024 Revenue $175M-$215M (Consensus Estimate $406.29M)
Portfolio Pulse from Benzinga Newsdesk
SolarEdge Technologies (SEDG) forecasts Q1 2024 revenue to be significantly below consensus estimates, ranging from $175M to $215M against an expected $406.29M. The company anticipates a non-GAAP gross margin between -3% to +1%, factoring in an 850 basis points net IRA manufacturing tax credit. Non-GAAP operating expenses are projected to be between $122M to $130M, with solar segment revenues expected between $160M to $200M and a gross margin of 1% to 5%, including a 900 basis points net IRA tax credit.
February 21, 2024 | 2:36 pm
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SolarEdge Technologies projects significantly lower Q1 2024 revenues ($175M-$215M) compared to consensus estimates ($406.29M), with a non-GAAP gross margin between -3% and +1%.
The significant shortfall in projected revenues compared to consensus estimates suggests potential challenges in SolarEdge's market performance or operational efficiency. The anticipated non-GAAP gross margin, potentially negative, further indicates financial pressure. These factors are likely to negatively impact investor sentiment and the stock price in the short term.
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