SolarEdge reports Q4 adjusted EPS (92c), consensus ($1.33)

Reports Q4 revenue $316.04M, consensus $323.3M. “Despite the challenges we faced in the second half of 2023, we concluded the year with $3.0 billion in revenue, just below 2022 levels,” said Zvi Lando, Chief Executive Officer of SolarEdge. “The first half of 2023 included record installations and expectations for continued growth, with a shift in the second half of the year to a weaker market due to higher interest rates and lower power prices, which resulted in an inventory buildup that slowed our shipments. Nevertheless, we believe we are well positioned for the next growth cycle in our industry due to our expanding product portfolio as well as the operational and cost reduction measures we have taken.”