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 ...

Core Viewpoint - SunPower Corp. shares experienced an increase following the announcement of new funding and waivers from financial partners, which the company believes will help it manage current industry challenges [1]. Financial Performance - The company reported a fourth-quarter loss that was wider than expected, alongside revenue that did not meet forecasts [1].

February 15, 2024 ...

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 ...

Shares of residential solar company SunPower (SPWR 21.12%) jumped as much as 27.4% in trading on Thursday after the company announced some new financing updates. Shares drifted lower as the day went on and are now up 19.9% at 3:15 p.m. ET.SunPower's debt kicked down the roadSunPower has been in default on some of its debt, leading to a "going concern" warning to investors. However, the company has gotten waivers from debtholders and is looking for more financing options. Today's news was that debtholders ha ...

Company Updates - SunPower Corp has received additional waiver extensions from Atlas Securitized Products Holdings, L P and Bank of America, extending the latest temporary waivers until February 16, 2024 [1] - The company has secured commitments for $20 million in financing from its majority shareholders TotalEnergies and Global Infrastructure Partners [1] - SunPower plans to use the financing and waiver extensions to continue discussions with key financial partners as it evaluates strategic alternatives for a long-term financial solution [1] Company Overview - SunPower is a leading residential solar, storage, and energy services provider in North America [2] - The company offers solar + storage solutions that provide customers with control over electricity consumption, resiliency during power outages, and cost savings for homeowners [2]

In this video, Motley Fool contributors Jason Hall and Tyler Crowe take a closer look at SunPower (SPWR -2.29%), its spinoff of Maxeon Solar Tech (MAXN -2.05%), and why Enphase Energy (ENPH -1.37%) and First Solar (FSLR -0.94%) look like better stocks to buy right now.*Stock prices used were from the afternoon of Jan. 23, 2023. The video was published on Jan. 27, 2023. ...

After enjoying a pleasant pop in its share price at the end of 2023, solar company SunPower (SPWR -10.00%) is experiencing a dimmer 2024. Its share price cratered by 10% on Thursday after an analyst downgraded his rating on the stock. That decline was far steeper than the S&P 500 index's 0.3% dip for the session.Yet another bearish take on SunPowerWell before the market opened, Raymond James Financial's Pavel Molchanov changed his recommendation on SunPower stock to market perform -- hold, in other words -- ...

Core Viewpoint - Investors have shown increased confidence in SunPower's stock, with a price increase of over 8% in recent trading days, primarily driven by positive financing news [1] Group 1: Financial Developments - SunPower faced a financial challenge due to a delay in delivering quarterly financials to the SEC, which breached a loan covenant and risked an "immediate acceleration" of debt [2] - The company secured a temporary waiver from its creditor until January 19, 2024, alleviating the immediate threat of default [2][3] - Despite the waiver, SunPower remains in a precarious financial position, having issued a "going concern" warning due to significant indebtedness [3] Group 2: Compliance and Reporting - SunPower successfully filed its quarterly figures with the SEC on December 18, regaining compliance with reporting requirements the following day [4]