SolarEdge Lowers Expectations for Next Quarter, Stock Drops
Translated & summarized from TheMarker by baba
SolarEdge reported $326 million in third-quarter 2026 revenue and improved gross profit, partly due to $36 million in tax refunds. However, the company forecasts a slowdown for the fourth quarter and plans to lay off dozens of employees in Israel. CEO Shuki Nir cited decisive cost-reduction steps as the company's stock dropped 8% in pre-market trading.
The story in 5 lines · by baba
- SolarEdge reported $326 million in Q3 2026 revenue and improved gross profit.
- The company expects a slowdown in the fourth quarter.
- SolarEdge plans to lay off dozens of employees in Israel.
- CEO Shuki Nir stated the company is taking decisive cost-reduction steps.
- The company's stock fell 8% in pre-market trading following the announcement.
SolarEdge, a Nasdaq-listed company, released its financial reports for the third quarter of 2026 on Wednesday. The company reported revenues of $326 million and an improved gross profit margin for the quarter. This improvement was partly due to $36 million in benefits and tax refunds (IEEPA).
Despite the positive quarterly results, SolarEdge issued a cautious forecast for the fourth quarter, anticipating a slowdown. The company also recently announced plans to lay off dozens of employees in Israel. CEO Shuki Nir stated, "We are taking decisive steps to reduce costs."
In response to the lowered expectations and upcoming layoffs, SolarEdge's stock fell approximately 8% in pre-market trading on Nasdaq.
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