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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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Indian Rupee Rises To 5-day High Against U.S. Dollar
The Indian rupee strengthened against the U.S. dollar in the Asian session on Tuesday, in anticipation that the Reserve Bank of India (RBI) has intervened in the currency market to boost the Indian Rupee.
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Commodity Currency's Slide Amid Risk-Off Sentiment
The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against other major currencies in the Asian session on Tuesday, as Asian stocks traded lower as a tech rally fizzled out due to valuation concerns and investors weighed mixed messages from Federal Reserve officials over the path of interest rates.
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European Shares Decline Amid Risk-off Sentiment
European stocks were sharply lower on Tuesday as mixed earnings, weak U.S. manufacturing data and cautious comments from Federal Reserve officials over the path of interest rates soured investors' appetite for riskier assets.
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Yen Rises Against Majors
The Japanese yen strengthened against other major currencies in the Asian session on Tuesday.
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Asian Shares Decline Amid Economic Uncertainty
Asian stocks ended mostly lower on Tuesday as a tech rally fizzled out due to valuation concerns and investors weighed mixed messages from Federal Reserve officials over the path of interest rates.
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