SolarEdge sinks post-earnings as Q1 sales guidance far below expectations (NASDAQ:SEDG)

SolarEdge Technologies (NASDAQ:SEDG) -11.3% post-market Tuesday after reporting a smaller than forecast Q4 adjusted loss but issuing sharply lower than expected guidance for Q1 revenues.

SolarEdge (SEDG) swung to a Q4 loss of $162.4M, or $2.85/share, from earnings of $21M, or $0.36/share, in the year-earlier quarter, while Q4 revenues plunged 64% Y/Y to $316M.

Gross margin from the solar segment plunged to 4%, compared with 24% in Q3 and 32.4% in the year-ago quarter.

The company sees more sales declines ahead, guiding for Q1 revenues of $175M-$215M compared with the $373M analyst consensus estimate, and gross margin between negative 3% and a positive 1%.

Other solar stocks trade lower after-hours in response to SolarEdge’s (SEDG) weak Q4, including Enphase Energy (ENPH) -3.1%, Maxeon Solar (MAXN) -2.1%, SunPower (SPWR) -1.7%, Sunnova Energy (NOVA) -1.7%, Canadian Solar (CSIQ) -1.5%.

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