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Maxeon Solar Technologies, Ltd

MAXN

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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Year	Q1	Q2	Q3	Q4	Annual

2023	0.46	-0.03	-2.21	-	-
2022	-	-	-	-1.85	-6.54
2021	-	-	-	-	-6.79
2020	-	-	-	-	-5.82
2019	-	-	-	-	-8.61