SolarEdge Technologies (NASDAQ:SEDG) shares plunged more than 25% intra-day today following the company’s preliminary Q3 financial results. Revenue for the quarter is now expected to be between $720 million and $730 million, a significant drop from the earlier projection of $880 million to $920 million, and below the consensus estimate of $909.02 million at the midpoint.

CEO Zvi Lando attributed the decline to unexpected cancellations and delays in European distributor orders due to higher-than-anticipated channel inventory and slower installation rates. The company also expects significantly reduced revenues in Q4 as the inventory adjustment process continues.

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

× ¿Cómo puedo ayudarte?