SunPower Adds 20.4K Customers in Q2 Amid Softening Residential Solar Market
Portfolio Pulse from Anusuya Lahiri
SunPower Corp reported Q2 FY23 revenue growth of 11% YoY to $463.85 million, beating consensus estimates. The company added 20,400 customers but saw a decline in non-GAAP gross margin due to increased costs. Adjusted EPS loss and EBITDA also declined. The company cut its 2023 adjusted EBITDA guidance and customer growth forecast. SunPower shares traded lower by 0.91%.
August 04, 2023 | 10:07 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
SunPower's Q2 results beat revenue estimates but the company cut its 2023 guidance, which could negatively impact investor sentiment.
SunPower's Q2 results showed strong revenue growth, but the company's cut in its 2023 guidance and the decline in gross margin due to increased costs could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100