SolarEdge Earnings Miss Estimates, Revenue Beats Expectations
SolarEdge Technologies Inc recently released its earnings report, showcasing a mixed bag of financial results for the second quarter. The company reported an EPS (Earnings Per Share) of $-1.79, which missed analyst estimates by $0.27, as the consensus was $-1.52. However, on the brighter side, revenue for the quarter was recorded at $265.4 million, slightly above the analyst expectations of $264.31 million.
Guidance for Q3 2024
Looking ahead, SolarEdge Technologies Inc has provided its revenue guidance for the third quarter of 2024, predicting figures between $260.00 million and $290.00 million. This is significantly below the analyst consensus of $354.70 million, indicating potential caution among investors.
Stock Performance
SolarEdge’s stock price closed at $23.59, marking a significant decline of -52.31% over the last three months and a dramatic drop of -86.78% over the past year. This steep decline is reflective of the challenges and market sentiment surrounding the company's recent performance.
Analyst Revisions
In the last 90 days, the company has witnessed 0 positive EPS revisions and 23 negative EPS revisions, further highlighting the cautious stance of analysts toward SolarEdge's financial health and future performance.
Financial Health Score
According to InvestingPro, SolarEdge Technologies Inc's Financial Health score is rated as "fair performance", suggesting that while the company is not in immediate financial distress, it is also not demonstrating strong financial health.
Overall, the mixed results of SolarEdge Technologies Inc highlight the volatility and challenges in the current market environment. Investors should remain cautious and keep an eye on further developments, particularly around the company's ability to meet its future revenue targets and improve its stock performance.
