Another solar company has warned of demand challenges, and that’s dragging down shares of industry players Wednesday.
Executives at SolarEdge Technologies Inc. SEDG became the latest to caution about market trends Tuesday afternoon, delivering a forecast that fell well shy of expectations and highlighting negative trends in the U.S. market. SolarEdge joined SunPower Corp. SPWR and Enphase Energy Inc. ENPH , which have given similar indications in recent sessions.
“As growth in demand has tapered off, distributors are taking a more cautious approach in order to better manage their cash flow,” Lando said. “In addition to taking actions to reduce inventory levels, distributors are also reducing the number of suppliers in their portfolio, which had expanded during the period of shortages.”
Don’t miss: 2 stocks for investors who want to ride along with double-digit sales and earnings growth through 2025 as electric utilities build more solar fields
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »