A SolarEdge Technologies logo is seen on a smartphone and a PC.SolarEdge's stock plummeted Tuesday after the company gave weak guidance for the first quarter. SolarEdge expects revenues of $175 million to $215 million for the quarter, well below Wall Street's expectations of $406 million. 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.R ...

Investment Rating - The report maintains a cautious outlook on SolarEdge Technologies, indicating that the company's performance in Q4 2023 is expected to be viewed negatively by the market, with a non-GAAP net loss of $52.5 million, compared to a consensus loss of $76.8 million [5][6]. Core Insights - The residential solar market in Europe is anticipated to bottom out in Q1 2024, with a gradual improvement expected in solar installations throughout the year, although the commercial solar market is viewed more optimistically [1][5]. - The company's Q1 2024 revenue guidance is significantly below market expectations, with projected revenues of $175 million to $215 million, while the market anticipated $373 million [6][7]. - SolarEdge plans to initiate a stock buyback of $300 million starting in Q1 2024, which will be conducted judiciously [2]. Summary by Sections Financial Performance - In Q4 2022, the company reported net revenue of $890.7 million, which is expected to decline to $316 million in Q4 2023, reflecting a 65% year-over-year decrease [4]. - The gross profit for Q4 2023 is projected to be negative at -$56.5 million, a significant drop from $261 million in Q4 2022 [4]. - The company’s adjusted diluted earnings per share (EPS) based on GAAP is expected to be -$2.85 for Q4 2023, compared to $0.35 in Q4 2022 [4]. Market Outlook - The report suggests that the U.S. residential solar market dynamics will not change until interest rates decline, while the commercial solar market outlook remains relatively positive [1][5]. - The company expects a gradual recovery in solar installations throughout 2024, with Q2 2024 revenue running rate projected at $600 million to $650 million and gross margins recovering to 30-32% [6][7]. Liquidity and Inventory - SolarEdge anticipates that 2024 will be a cash-rich year starting from Q2, despite acknowledging that most of its revenue will come from inventory sales, which currently stands at a record $1.44 billion [8].

SolarEdge Technologies Inc. (SEDG) recently installed its new high-power Direct Current (DC)-optimized 330 kilowatt (kW) inverter system for the first time in the United States. This inverter system, which comes with a UL1741-SB certification, can be deployed in both community and ground-mount solar projects.Details of the ProjectThe first commissioned DC-optimized SolarEdge 330-kW inverter system in the United States is a 1 megawatt (MW) ground-mount solar system, which SEDG installed on a site owned by th ...

SolarEdge Technologies, Inc. (SEDG) is scheduled to report fourth-quarter and full-year 2023 results on Feb 20, after the closing bell.In the last reported quarter, the company delivered a negative earnings surprise of 180.88%. SolarEdge has a trailing four-quarter average earnings surprise of 13.23%.Factors to NoteSolarEdge started to witness slow market demand in the third quarter of 2023, which, along with financial challenges faced by its distributors, resulted in a large number of order cancellations f ...

MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced that its new high-power DC-optimized SolarEdge 330kW Inverter system for community and ground mount solar has received UL1741-SB certification and is now deployed with its first customer in the U.S. The first commissioned DC-optimized SolarEdge 330kW Inverter system in the U.S. is a 1MW ground mount solar system that was recently installed in Northern C ...

Wall Street expects a year-over-year decline in earnings on lower revenues when SolarEdge Technologies (SEDG) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 20, 2024, might help the stock move higher if these key numbers are be ...

SolarEdge Technologies (SEDG) closed at $75.51 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500's daily gain of 0.06%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.Coming into today, shares of the photovoltaic products maker had lost 5.96% in the past month. In that same time, the Oils-Energy sector lost 1.2%, while the S&P 500 gained 6.45%.Analysts and investors alike will be keeping a close eye on the performance of So ...

The latest trading session saw SolarEdge Technologies (SEDG) ending at $68.01, denoting a -1.82% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.07%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw an increase of 1.74%.Prior to today's trading, shares of the photovoltaic products maker had lost 16.34% over the past month. This has lagged the Oils-Energy sector's loss of 0.76% and the S&P 500's gain of 2.93% in that time.The investm ...

SolarEdge, a company that makes inverters for solar panels, will shed about 16% of its workers. The company said Sunday roughly 900 people will lose their jobs in a restructuring plan "designed to reduce operating expenses and align its cost structure to current market dynamics." It called industry conditions "challenging" in a filing with the Securities and Exchange Commission (SEC).The layoffs will occur over the first six months of the year, according to SolarEdge. More than half of the affected employee ...

Key TakeawaysSolarEdge shares rose after it said it was slashing its workforce to cut costs amid a slump in demand for solar products.The maker of solar power equipment is laying off 900 workers, or 16% of its workforce.CEO Zvi Lando said the job cuts and other cost reductions were needed for SolarEdge to align with current market conditions.SolarEdge Technologies (SEDG) shares gained over 3% in intraday trading Monday after the maker of solar power equipment said it would slash its workforce to cut costs a ...