By Connor Hart
Shares of SolarEdge Technologies climbed after the company posted higher-than-expected revenue in the fourth quarter and signaled a turnaround in 2025.
The stock gained 29%, to $21.77, in midday trading Wednesday. Shares, on pace for their largest percent increase since March 2020, are up 60% since the beginning of the year, though they are down 71% in the past 52 weeks.
The Israeli solar-power firm posted a net loss of $287.4 million, or $5 a share, compared with a loss of $162.4 million, or $2.85 a share, a year earlier.
On an adjusted basis, the company reported a loss of $3.52 a share. Analysts surveyed by FactSet were expecting a loss of $1.50 a share.
Revenue fell 38% to $196.2 million but came in ahead of the $189.6 million that analysts were looking for.
Chief Executive Shuki Nir said the company's turnaround is just getting under way. "The return to positive free cash flow generation in Q4 is a solid first step, and we expect to be free cash flow positive in Q1 2025 and for the full year 2025," he said.
For the first quarter, SolarEdge forecast revenue of $195 million to $215 million, the midpoint of which is just above the $204.3 million that analysts modeled.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 19, 2025 12:37 ET (17:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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