Maxeon Solar Technologies, Ltd
- Maxeon Solar Technologies Ltd dropped 32.5% to $15.05 after the company missed its own sales outlook for the second quarter and forecasted even lower sales in the third quarter.
The clean energy company reported second quarter revenue of $348 million compared to $228 million a year ago and forecasted revenue between $280 million and $320 million in the third quarter.
Maxeon guided full-year 2023 sales between $1.25 billion and $1.35 billion and adjusted operating earnings between $80 million and $100 million and capital expenditure between $150 million and $170 million.
Net loss in the quarter declined to $1.5 million from $87.5 million and diluted loss per share shrank to 3 cents from $2.15 a year ago.
Solar shipments increased to 807 MW from 521 MW a year ago and the Singapore headquartered company guided between 700 MW and 740 MW in the third quarter.
Aug 11, 2023
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