SolarEdge is willing to sacrifice margins today to capture huge demand growth in Europe, CFO says [CNBC]
SolarEdge Technologies, Inc. (SEDG)
Last solaredge technologies, inc. earnings: 2/19 04:05 pm
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Source: CNBC
The falling Euro hit the company's operations, with 47% of its revenue generated in Europe. SolarEdge CFO Ronen Faier said lower margins now is the price to be paid for long-term growth. In this article SolarEdge shares tumbled this week after the company's second-quarter results showed a hit to margins from factory closures, higher transport costs and currency headwinds from the weakening Euro. But SolarEdge CFO Ronen Faier said lower margins now is the price to be paid for long-term growth in a market where demand is skyrocketing. “We have demand that is far beyond anything that we could plan for, expect for, and even grow,” he told CNBC. SolarEdge reported record revenue of $727.8 million during the second quarter, slightly short of the $730.7 million analysts surveyed by StreetAccount were calling for. The company's non-GAAP gross margin came in at 26.7% during the latest quarter, down from 33.9% in the same quarter during the prior year. For the current quarter, th
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SEDG
Earnings
- 2/20/24 - Beat
SEDG
Sec Filings
- 4/17/24 - Form 4
- 3/4/24 - Form 4
- 2/26/24 - Form 10-K
- SEDG's page on the SEC website