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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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604 days ago
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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904 days ago
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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1080 days ago
Bay Street Likely To Open Higher On Firm Oil, Metal Prices
Higher crude oil and metal prices point to a firm start for the Canadian market on Thursday. Investors are also expecting that the upcoming Canadian budget will contain some huge funding in major initiatives.
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15 minutes ago
Turkey Central Bank Cuts Key Rates By 100 Bps As Expected
Turkey's central bank reduced the pace of interest rate cuts on Thursday as inflation accelerated due to higher food prices. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Yasar Fatih Karahan, decided to reduce the policy rate by 100 basis points to 39.50 percent from 40.50 percent.
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34 minutes ago
FTSE 100 Advances As Investors React To Earnings Announcements
U.K.'s FTSE 100 remains firmly up in positive territory a little past noon on Thursday, with investors reacting to a slew of encouraging corporate earnings announcements. Energy and mining stocks are faring well.
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1h 51min ago
French Manufacturing Sentiment Strengthens Unexpectedly
French manufacturing confidence strengthened unexpectedly in October to the highest level in more than a year, data from the statistical office INSEE showed on Thursday.
The manufacturing confidence index rose to 100.7 in October from 96.7 in September, while the reading was forecast to drop to 96.0. Moreover, the score was the highest since March 2024.
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2h 6min ago
CAC 40 Hovers Near Record High; Kering Soars Over 10%
France's CAC 40 is hovering near its record high on Thursday with investors largely reacting to corporate earnings announcements, and data showing an improvement in industry confidence in France in the month of October.
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2h 15min ago
