Maxeon Solar Technologies, Ltd. (MAXN) Reports Q3 Loss, Tops Revenue Estimates

Group 1 - Maxeon Solar Technologies reported a quarterly loss of $0.47 per share, significantly better than the Zacks Consensus Estimate of a loss of $11.50, and a substantial improvement from a loss of $221 per share a year ago, indicating an earnings surprise of 95.91% [1] - The company posted revenues of $88.56 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 25.72%, but down from $227.63 million in the same quarter last year [2] - Over the last four quarters, Maxeon Solar Technologies has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Group 2 - The stock has underperformed significantly, losing about 98.9% since the beginning of the year, while the S&P 500 has gained 27.6% [3] - The current consensus EPS estimate for the upcoming quarter is -$3 on revenues of $95 million, and for the current fiscal year, it is -$27 on revenues of $621.11 million [7] - The Zacks Industry Rank for Solar is currently in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]