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.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100