This company offers a range of technological solutions for solar energy projects to customers globally.
Brutal day.
From the earnings call:
"However, given the continuing increases we are seeing in steel and freight costs, as well as our ongoing review of open contracts to assess what costs we will pass on to customers, we are not able to affirm our previously provided guidance for the full year.
We expect to update our guidance once we have completed the review of all of our open purchase orders and commodity and shipping prices remain stable for a long enough period of time to give us confidence in using them to develop a forecast for the remainder of the year. Importantly, we believe our competitors are being impacted by the same cost increases that we are experiencing and in certain cases much more significantly because their smaller size gives them less buying power with suppliers."
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