Maxeon Solar Technologies Q1 2024 GAAP EPS $(1.59) Misses $(1.00) Estimate, Sales $187.456M Miss $193.905M Estimate
Portfolio Pulse from Benzinga Newsdesk
Maxeon Solar Technologies (NASDAQ:MAXN) reported Q1 2024 GAAP EPS of $(1.59), missing the $(1.00) estimate by 59%. Sales were $187.456M, missing the $193.905M estimate by 3.33% and down 41.11% from the same period last year.
May 30, 2024 | 11:37 am
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NEGATIVE IMPACT
Maxeon Solar Technologies reported a significant earnings miss for Q1 2024, with GAAP EPS of $(1.59) falling short of the $(1.00) estimate by 59%. Sales also missed expectations, coming in at $187.456M versus the $193.905M estimate, and were down 41.11% year-over-year.
The significant miss on both EPS and sales, combined with a substantial year-over-year decline in sales, is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100