Reports Q3 revenue $260.9M, consensus $269.38M. During Q3 SolarEdge (SEDG) undertook an asset valuation analysis which resulted in a write down and impairment of various assets. In total, the write down and impairment amount was $1.03B. The company said, “As SolarEdge weathers this difficult period in the Company’s history, we are diligently pursuing three main priorities: financial stability, recapturing market share and refocusing on our core solar and storage opportunities. We are grateful for our passionate and dedicated workforce and proud of our leadership in technological innovation, all of which I am confident will put the Company back on a profitable growth trajectory.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SEDG:
- SolarEdge Technologies Announces Strategic Board Appointments
- SolarEdge cut to Underperform, Array to Neutral at BofA after Trump win
- SolarEdge downgraded to Underperform from Neutral at BofA
- SolarEdge options imply 15.7% move in share price post-earnings
- Solar stocks plunge as Trump win seen scaling back initiatives