Maxeon Solar Technologies: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Maxeon Solar Technologies (NASDAQ:MAXN) reported Q3 earnings with an EPS of $-1.74, significantly missing the estimate of $-0.93. Revenue also declined by $47.82 million compared to the same period last year. The company's stock price had previously dropped by 31.96% following last quarter's earnings beat.
November 15, 2023 | 9:15 pm
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NEGATIVE IMPACT
Maxeon Solar Technologies reported a significant earnings miss and a decrease in year-over-year revenue for Q3, which may lead to negative investor sentiment and a potential drop in stock price.
Given the substantial earnings miss and the historical stock price drop following the last earnings beat, it is likely that MAXN will experience a negative short term impact on its stock price. The magnitude of the miss and the previous market reaction suggest a strong likelihood of a similar response.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100