SolarEdge Technologies Q1 2024 Adj EPS $(1.90) Misses $(1.57) Estimate, Sales $204.399M Beat $195.976M Estimate
Portfolio Pulse from Benzinga Newsdesk
SolarEdge Technologies (SEDG) reported Q1 2024 adjusted EPS of $(1.90), missing the $(1.57) estimate, and sales of $204.399M, beating the $195.976M estimate. This represents a significant decrease in performance compared to the same period last year, with earnings down 165.52% and sales down 78.35%.
May 08, 2024 | 8:35 pm
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SolarEdge Technologies reported a significant miss in Q1 2024 EPS and a decrease in sales compared to last year, though sales beat estimates.
The significant miss in EPS and the sharp year-over-year decline in both earnings and sales indicate a negative short-term impact on SEDG's stock price. The sales beat might offer some support, but the overall negative earnings report is likely to weigh more heavily on investor sentiment.
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