SolarEdge’s warning also drags down Enphase stock, which falls 13%
SolarEdge Technologies Inc. late Thursday cut its outlook for third-quarter profits and gross margins and said it expects “significantly lower” fourth-quarter revenue as it faced a slowdown in solar-power installations in Europe.
The company attributed the cancellations and pushouts to higher-than-expected inventory and slower-than-expected installation rates. SolarEdge expects third-quarter revenue to be in a range between $720 million and $730 million, which compares with a previous expectation of between $880 million and $920 million.
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