SolarEdge tumbles 18% on weak first quarter guidance

SolarEdge‘s stock plummeted Tuesday after the company gave weak guidance for the first quarter.

SolarEdge expects revenues of $175 million to $215 million for the quarter, well below Wall Street’s expectations of $406 million.

Here’s what SolarEdge reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

• Loss per share: 92 cents adjusted, vs. $1.17 expected.
• Revenues: $316 million, vs. $354 million expected.

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