🔹 Revenue: $219.5M (Est. $204.2M) 🟢
🔹 EPS: ($1.14) (Est. ($1.16)) 🟢
Q2'25 Guidance:
🔹 Revenue: $265M-$285M (Est. $243.7M) 🟢
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Solaredge Tech
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ISIN: US83417M1045
Ticker: SEDG
US83417M1045
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374Mon·
Signing of safe harbor agreements with leading US providers of solar systems and financing solutions
At the end of December, the company signed safe harbor agreements with Sunrun
with Sunrun (Nasdaq: RUN) and one of the largest solar
financing companies for solar installations in the USA. Under the terms of these
agreements, SolarEdge will supply inverters, power optimizers and batteries
inverters, power optimizers and batteries, which will be manufactured
manufacturing facilities. In combination with other components manufactured in the USA
components, these products will enable SolarEdge's partners to qualify for
partners to qualify for tax credits for domestic content.
content tax credits. Deliveries under the
safe harbor agreements are expected to continue throughout 2025.
year.
By providing inverters produced in the USA,
power optimizers and batteries, SolarEdge's installation and financing
SolarEdge's installation and financing partners plan to secure the applicable investment and tax
tax credits for domestic content. This
provides better predictability for their business activities and
creates more certainty regarding the profitability of their
projects.
33
6Mon·
$SYM
FILES TO DELAY 10-K DUE TO REVENUE RECOGNITION ERRORS
Symbotic has delayed its FY2024 10-K filing, citing the need to address errors in revenue recognition related to cost overruns on deployments that won’t be billable. These issues impact system revenue, gross margin, and net income across Q2-Q4 of FY2024, with previously reported results deemed unreliable.
Revised estimates for FY2024 include revenue growth of $605M-$615M (vs. $645M initially reported) and a narrowed net loss of $117M-$127M (reflecting a $30M-$40M adjustment). Symbotic expects to file the corrected 10-K within the 15-day extension period.
__
$SEDG (+6.41%) TO CUT 500 JOBS, EXIT ENERGY STORAGE BUSINESS
SolarEdge is cutting 500 jobs, about 12% of its workforce, as it shuts down its energy storage division to focus on its core solar operations. Most layoffs will affect manufacturing roles in South Korea, with nearly all set to occur in the first half of 2025.
The pivot will result in $81M-$99M in charges from asset impairments, inventory write-offs, and severance. SolarEdge plans to partially offset these costs by selling off the energy storage unit's assets.
22
6Mon·
$SEDG (+6.41%) | SolarEdge Technologies Q3 Earnings Highlights:
🔹 Revenue: $260.9M (Est. $272.8M) 🔴; DOWN -64% YoY
🔹 GAAP EPS: -$21.13; Non-GAAP EPS: -$15.33 (Est. -$1.65) 🔴
🔹 GAAP Net Loss: $1.21B vs. $61.2M loss YoY
🔹 Adjusted EBITDA: Not provided due to large write-downs and impairments
🔹 GAAP Gross Margin: -269.2%, down significantly from 19.7% YoY
Q4 Guidance
🔹 Revenue: $180M - $200M (Est. $309.2M) 🔴
🔹 Non-GAAP Gross Margin: -4% to 0%, inclusive of ~1000 basis points from IRA manufacturing tax credit
🔹 Solar Segment Revenue: $170M - $190M
🔹 Solar Segment Gross Margin: 0% to 3%, inclusive of ~1050 basis points from IRA manufacturing tax credit
🔹 Non-GAAP Operating Expenses: $103M - $108M
Segment Revenue
🔹 Solar Segment: $247.5M, DOWN -63% YoY
🔹 Non-Solar Revenue: Not specifically detailed
Operational Metrics
🔹 Inverters Shipped: 850 MW (AC)
🔹 Battery Shipments: 189 MWh for PV applications
Impairments and Write-Downs
🔸 Total impairments and write-downs of $1.03B, contributing heavily to net loss
CEO Commentary
🔸 "We are diligently focused on three main priorities: financial stability, recapturing market share, and refocusing on our core solar and storage opportunities. Despite the current challenges, I am confident in our path to restoring profitability." – Ronen Faier, Interim CEO
Other Financial Metrics
🔹 Cash Used in Operating Activities: $63.9M, compared to $40.6M generated in the same quarter last year
🔹 Cash, Equivalents, and Marketable Securities: $53.3M, down from $165.3M in Q2
55
6Mon·
INITIAL MARKET REACTION TO TRUMP VICTORY:
- U.S. Stocks: Broadly higher across sectors
- $XLF: Big banks higher on expectations of regulatory relief, M&A growth
- Cannabis Stocks: $WEED (-1.02%), $MSOS, $TLRY (-3.05%) down as Florida votes against legalization
- $CVS (+0.36%), $UNH (-0.43%) : Health insurers rally on potential easing of Medicare Advantage pressures
- $XLE (+1.96%) , $XOM (+1.49%): Energy stocks higher, anticipating fossil fuel support and less regulation
- Solar/Renewables: Pressure on $FSLR (+7.23%), $SEDG (+6.41%), EV, hydrogen, and battery stocks as clean energy subsidies could be rolled back
- Crypto: Higher as Trump holds a favorable stance, $BTC (+2.08%) strong
- $TSLA (+1.18%): Higher after Trump Win as Musk was all-in on support
- Bonds: Weaker, with yields rising on fiscal concerns
- China Stocks: Weak as tariff pressures and anti-China policy concerns grow
- Peso/Mexican Equities: Weaker on aggressive trade policies and tariffs fear
- FinTech: Higher with $HOOD (+6.42%), $AFRM (+4.33%) , $SQ (+3.46%), $SOFI (+0.38%) responding positively
- Dollar: Stronger due to pro-business policies
- $META (-0.16%), $SNAP (+2.57%): Mixed as TikTok ban concerns ease
- Overall: Dollar, crypto, energy, banks, and U.S. stocks higher; bonds, renewables, and cannabis under pressure.
2222
8Mon·
If you are interested in renewables and hydrogen (shares), here is an extremely easy to understand podcast that deals with many airlock theories such as the resurgence of nuclear energy.
can be listened to on the side
https://www.youtube.com/watch?v=fbSEfu6g3c4
$NEL (+1.02%)
$VWS (-1.63%)
$UKW (+1.85%)$FSLR (+7.23%)
$SEDG (+6.41%) and for whom it might still be relevant
www.youtube.com - YouTube
99
18 Comments
ThemenmitKopf@topicswithhead
8Mon
•
22
•View all 17 further answers
10Mon·
16.07.2024 +++ Apple increases sales in India +++ Hugo Boss lowers forecast +++ Netflix with new price target +++ SMC joins the NASDAQ 100 +++ Solar sector under pressure +++
Jefferies raises target for NETFLIX $NFLX (+0.59%) to USD 780 (655) - 'BUY'
SolarEdge $SEDG (+6.41%) Technologies lost around 9% after the company announced plans to lay off 400 employees to restore profitability at a time of declining revenues. Other solar stocks fell, with Sunrun $RUN (+17.2%) and Sunnova Energy $NOVA (+1.94%) recently falling by more than 6 % each. Nextera Energy $NEE (+1.92%) slipped by 2%. Joe Biden stood for this sector, but he has not delivered on his promises in recent years. Now that he is losing more respect and Trump is further ahead, this is reflected in the sector!
Apple $AAPL (+1.36%) achieved a new record turnover of 8 billion dollars in India in the past financial year. The 33 percent year-on-year increase is in line with the increased attention Apple is paying to the Indian market, writes the agency. The iPhone manufacturer is benefiting from the increased purchasing power of Indians and has set its sights on the country as a production location and source of revenue beyond China against the backdrop of growing tensions in trade with the USA.
Hugo Boss lowers annual forecast below market expectations - weak quarter
The fashion retailer Hugo Boss $BOSS (-1.14%) is more pessimistic about the year as a whole after a disappointing second quarter. The company announced late Monday evening that it only expects sales to increase by one to four percent to 4.20 to 4.35 billion euros in 2024. This means that the upper end of the range is below the market expectation of 4.37 billion euros. Previously, Hugo Boss had expected an increase in sales of three to six percent. In its new forecast, the company assumes that currency effects will have a slightly negative impact on sales development in 2024.
Tuesday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
Clinica Baviera EUR 1.57
Quarterly figures / company dates USA / Asia
00:30 Rio Tinto Operation Report 2Q
11:55 Unitedhealth Group quarterly figures
12:45 Bank of America quarterly figures
13:30 Morgan Stanley quarterly figures
13:30 State Street quarterly figures
14:00 Alco Extraordinary General Meeting
Quarterly figures / Company dates Europe
07:30 Richemont Trading Update 1Q
17:45 Vinci Q2 sales
19:00 Telekom Austria quarterly figures
Economic data
- 10:00 EU: ECB, Quarterly Lending Report 2Q
- 11:00 EU: Trade Balance May
- 11:00 DE: ZEW Indicator of Economic Sentiment July FORECAST: 41.0 points previously: 47.5 points Economic situation FORECAST: -75.5 points previously: -73.8 points
- 14:30 US: Retail Sales June FORECAST: -0.2% yoy previous: +0.1% yoy Retail Sales ex Motor Vehicles FORECAST: +0.1% yoy previous: -0.1% yoy
- 14:30 US: Import and Export Prices June Import Prices PROGNOSE: -0.1% yoy previous: -0.4% yoy
- 16:00 US: Inventories May PROGNOSE: +0.5% yoy previous: +0.3% yoy
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