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SunPower Q3 Results Top Estimates; Stock Up 13%
(RTTNews) - 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.
Excluding items, adjusted net income from continuing operations for the quarter was $0.13 per share, compared to $0.12 per share last year.
Total revenue for the quarter soared to $475.71 million from $283.31 million in the same quarter last year. Adjusted revenue was $469.82 million.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share on revenues of $428.0 million for the quarter. Analysts' estimates typically exclude special items.
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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 Says Q2 Preliminary Revenue Down 11% To $464 Mln
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.
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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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FTSE 100 Modestly Lower
After posting gains in the previous five sessions, the U.K. market is exhibiting weakness on Tuesday, weighed down by losses in financials and retail sectors.
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CAC Down Sharply On Widespread Selling
French stocks are down sharply on Tuesday, extending previous session's steep drop, amid ongoing political uncertainty in the country.
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DAX Extending Recent Weakness
German stocks are down in negative territory on Tuesday, extending losses from the previous session, due to geopolitical concerns and uncertainty about tariffs.
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Sensex, Nifty Tumble On Tariff Worries
Indian shares tumbled on Tuesday after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports, with the punitive duties set to kick in at 12:01 am (EST) on August 27.
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French Consumer Sentiment Weakest Since 2023
France's consumer confidence weakened to the lowest level since October 2023 largely due to the weaker outlook for standard of living and the fall in saving intentions. The consumer sentiment index edged down to 87 in August from 88 in July. This was the lowest reading since October 2023 and remained below its long-term average of 100.
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