SunPower Reports First Quarter 2020 Results

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Go back to SunPower Reports First Quarter 2020 Results

SunPower (SPWR) Tops Q1 EPS by 9c, Revenues Beat; Provides 2Q Revenue Guidance Below Consensus

May 7, 2020 4:31 PM EDT

SunPower (NASDAQ: SPWR) reported Q1 EPS of ($0.10), $0.09 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $454.4 million versus the consensus estimate of $408.75 million.

First Quarter Company Highlights

Strong global Distributed Generation (DG) demand 50 percent year over year volume growthSignificant progress in Commercial Direct business expected profitability in second half 2020Continued investment in new products/services next generation Maxeon technology, Equinox storage, digitalSpin-off of Maxeon Solar Technologies expected for second quarter of 2020, pending regulatory approval and the signing of financial facilitiesFocused on health and safety of... More