SEDG - Why Sunrun SolarEdge Sunnova Energy Shares Are Moving Lower After Hours | Benzinga
Several solar stocks including Sunrun Inc (NASDAQ:RUN), SolarEdge Technologies Inc (NASDAQ:SEDG) and Sunnova Energy International Inc (NYSE:NOVA) are trading lower in Tuesday’s after-hours session in sympathy with shares of Enphase Energy Inc (NASDAQ:ENPH), which fell after the company reported worse-than-expected quarterly results.
What Happened With Enphase?
- Q1 Revenue: $263.3 million, versus estimates of $281.95 million
- Q1 EPS: 35 cents, versus estimates of 40 cents
Enphase Energy’s U.S. revenue was down approximately 34% on a year-over-year basis in the first quarter, while revenues in Europe increased by approximately 70%.
“The decline in revenue for the first quarter of 2024 compared to the fourth quarter of 2023 was the result of seasonality ...