Higher interest rates have made it more expensive to finance new solar panels.gettySunPower reported pretty dismal 2023 results last week. For the year the residential solar company lost $247 million on $1.7 billion in revenue. It burned through $300 million in cash, and didn’t even have any growth to show for it. In the fourth quarter installations were down 4% over the previous year, while new bookings fell 9%.Short on cash, in December SunPower defaulted on hundreds of millions of dollars in first lien d ...

Shares of SunPower Corporation (SPWR) declined 18.9% to $3.47 on Feb 20, following the company’s recent quarterly report release.  The company reported a fourth-quarter 2023 adjusted loss of 51 cents per share against earnings of 11 cents posted in the prior-year period. The loss was wider than the Zacks Consensus Estimate of a loss of 27 cents per share.Including one-time adjustments, the company reported a GAAP loss of 66 cents per share against the prior-year quarter’s earnings of 3 cents.For 2023, the c ...

RICHMOND, Calif., Feb. 20, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) a leading residential solar technology and energy services provider, today announced Tom Werner as Executive Chairman of the Board, effective Feb. 19, 2024. "As we move forward into our next era and navigate this critical moment for our industry, we are pleased to welcome Tom Werner back to SunPower," said Peter Faricy, SunPower's CEO. "Tom's unmatched experience in the solar business and his legacy institutional knowledge will be ...

Shares of residential solar installer SunPower (SPWR -0.70%) jumped a whopping 22.1% in trading early on Thursday after the company reported $175 million in financing and fourth-quarter 2023 financial results. At 1:30 p.m. ET shares were down slightly on the day, so the early gains have already evaporated.The quarter for SunPowerQuarterly results were secondary today, but I'll start there. Revenue was $356.9 million in the quarter and net loss was $115.6 million, or $0.66 per share. SunPower ended the quart ...

SunPower Corporation (NASDAQ:SPWR) Q4 2023 Earnings Conference Call February 15, 2024 8:00 AM ET Company Participants Mike Weinstein - Vice President, Investor Relations Peter Faricy - Chief Executive Officer Beth Eby - Chief Financial Officer Conference Call Participants James West - Evercore ISI Colin Rusch - Oppenheimer & Company, Inc. Ben Kallo - Baird Jon Windham - UBS Philip Shen - Roth Capital Partners Jordan Levy - Truist Securities Kashy Harrison - Piper Sandler Brian Lee - Goldman Sachs Andrew Per ...

SunPower (SPWR) came out with a quarterly loss of $0.51 per share versus the Zacks Consensus Estimate of a loss of $0.27. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -88.89%. A quarter ago, it was expected that this solar products and services company would post a loss of $0.01 per share when it actually produced a loss of $0.12, delivering a surprise of -1,100%.Over the last four quarter ...

Shares of SunPower Corp. were boosted Thursday, after the troubled solar panels and systems company said it secured new funding and waivers from its financial partners, which the company believes will allow it to “navigate current industry headwinds.” The company also reported a wider-than-expected fourth-quarter loss and revenue that fell short of forecasts. The... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Su ...

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Added 16,000 customers in Q4, 75,900 new customers in FY 2023 Reported Q4 revenue of $357 million; FY 2023 revenue of $1.7 billion Reported Q4 GAAP Net Loss of ($124) million and Adjusted EBITDA of ($68) million; FY 2023 GAAP Net Loss of ($247) million and Adjusted EBITDA of ($84) million Announced $175 million of additional capital and $25 million of additional revolving debt capacity RICHMOND, Calif., Feb. 15, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy ser ...

Obtains $175 million of capital and $25 million of additional revolving debt capacity, long-term waivers Provides up to $155 million of additional liquidity RICHMOND, Calif., Feb. 15, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR) (the "Company" or "SunPower"), a leading residential solar technology and energy services company, today announced that it has raised $175 million in capital financing through a second lien term loan from Sol Holding, LLC ("Sol Holding"), the Company's majority shareholder and ...