Why SunPower Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
SunPower Corp (NASDAQ:SPWR) shares dropped by around 15% after the company reported below-consensus Q2 revenues and a reduced 2023 outlook. The company expects Q2 revenues of $464 million, up 11% Y/Y, but below the consensus of $483.76 million. The company also reduced its 2023 outlook, including a cut in guidance of residential customers and a lowered outlook for residential adjusted EBITDA/customer.
July 26, 2023 | 1:52 pm
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NEGATIVE IMPACT
SunPower Corp's shares dropped significantly due to below-consensus Q2 revenues and a reduced 2023 outlook. The company's lowered guidance for residential customers and residential adjusted EBITDA/customer also contributed to the drop.
SunPower Corp's shares dropped due to the company's below-consensus Q2 revenues and a reduced 2023 outlook. The company's lowered guidance for residential customers and residential adjusted EBITDA/customer also contributed to the drop. This negative news is likely to impact the company's stock price in the short term.
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