SolarEdge Shares Tumble on Soft Fourth Quarter Guidance
Shares of SolarEdge tumbled on Wednesday after hours, following the solar product manufacturer’s soft guidance for its fourth quarter amid demand struggles in the renewable energy sector.
Company Performance
Here’s how the company performed:
- Earnings per share: Loss of 55 cents vs. 89 cents expected by LSEG, formerly known as Refinitiv
- Revenue: $725 million vs. $768 million expected by LSEG
Fourth Quarter Outlook
For its coming fourth quarter, SolarEdge reported expected revenue of between $300 million to $350 million. In the overall solar sector, revenue is expected to be between $275 million and $320 million.
Note: This is breaking news. Please check back for updates.
