SolarEdge slumps on disappointing Q2 revenue

• Published date: 03 August 2022
• Publication title: Globes (Rishon LeZion, Israel)

Investors were disappointed in SolarEdge's revenue, which missed the analysts' expectations. Second quarter revenue was $727.8 million, up 11% from the corresponding quarter of 2021 but lower than the analysts' forecast of $731 million. Non-GAAP earnings per share was $0.95, well above the analysts' expectations of NIS 0.88

SolarEdge develops and markets inverters for photovoltaic arrays energy generation monitoring software, battery energy storage products, and other related products and services to residential, commercial and industrial customers.

SolarEdge CEO Zvi Lando said, "The growing demand for energy in general and clean energy in particular continued to drive top line growth this quarter resulting in record revenues in Europe and the US. While we continue to face growing supply chain challenges, some related to our rapid growth in an environment of component shortages, and macro-economic trends as a result of our global footprint, we continue to support...