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SunPower Says Q2 Preliminary Revenue Down 11% To $464 Mln
(RTTNews) - While providing preliminary unaudited financial results for the second quarter on Wednesday, SunPower Corp. (SPWR) reported a net loss of $30 million on revenues of $464 million, up 11 percent year-over-year. Customer growth was of 20,400 new customers.
"Demand in the second quarter has weakened more than expected in the Southeast and Southwest where macroeconomic uncertainty and higher interest rates have slowed our top-of-funnel lead generation and sales bookings," said Peter Faricy, SunPower CEO.
Looking ahead to fiscal 2023, the company reduced guidance for net loss to a range of $90 million to $70 million.
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SunPower CEO Peter Faricy Departs
SunPower Corp. (SPWR), a residential solar technology and energy services provider,?announced Tuesday that Chief Executive Officer Peter Faricy has departed the Company, effective February 26, 2024. The Board is conducting a comprehensive search process to identify a permanent CEO.
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SunPower Q1 Adj. Loss Misses Estimates
SunPower Corp. (SPWR) announced Tuesday that net loss attributable to stockholders for the first quarter was $50.68 million or $0.29 per share, wider than net loss of $27.87 million or $0.16 per share in the prior-year quarter.
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SunPower Q3 Results Top Estimates; Stock Up 13%
SunPower Corp. (SPWR) announced Tuesday that net income attributable to stockholders for the third quarter was $139.41 million or $0.74 per share, compared to a net loss of $84.38 million or $0.49 per share in the prior-year quarter.
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Australian Market Slashes Early Losses In Mid-market
The Australian stock market is slashing its early losses in mid-market trading on Monday, but extending the losses in the previous four sessions, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying below the 8,850 level, with weakness in materials stocks partially offset by gains in energy, financial and technology stocks.
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Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, as a temporary tariff truce materialized between the U.S. and China wherein China agreed to buy more U.S. energy. This gave fresh optimism about smooth trade relations between the two major oil consumers of the world. Asian markets closed mixed on Friday.
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Sensex, Nifty Likely To Open On Cautious Note
Indian shares look set to open on a subdued note Monday after having snapped their four-week winning streak last week due to profit taking after recent gains to record highs.
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China Manufacturing Sector Ebbs In October - RatingDog
The manufacturing sector in China continued to expand in October, albeit at a slower rate, the latest survey from RatingDog revealed on Monday with a manufacturing PMI score of 50.6.
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Thai Shares Tipped To Open To The Upside
The Thai stock market has moved lower in consecutive trading days, slumping more than 6 points or 0.5 percent along the way. The Stock Exchange of Thailand now sits just shy of the 1,310-point plateau although it's expected to open in the green on Monday.
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