SolarEdge Announces Fourth Quarter 2023 and Full Year 2023 Financial Results

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Go back to SolarEdge Announces Fourth Quarter 2023 and Full Year 2023 Financial Results

SolarEdge (SEDG) nosedives 17% after disappointing report, guidance; solar stocks down

February 20, 2024 4:34 PM EST

SolarEdge Technologies (NASDAQ: SEDG) saw its share price plummet nearly 17% in premarket trading Wednesday after the companys FQ4 revenue and FQ1 2024 guidance missed analysts expectations.

For the fiscal Q4, the smart energy technology company posted a loss per share of $0.92, which was narrower than the predicted loss of $1.34. Revenue came in at $316.04 million, missing the consensus projection of $324.2 million.

Moreover, the non-GAAP gross margin for the quarter stood at 3.3%, a significant decrease from 20.8% in the... More