Maxeon Solar Stock Price, News & Analysis

Maxeon Solar Technologies (NASDAQ: MAXN) announced a partnership with Star Charge to integrate EV charging solutions into its SunPower One home energy ecosystem. This initiative aims to enhance consumer benefits by combining solar energy management with electric vehicle charging. The products are set to launch in select European markets in early 2023, promoting financial and environmental savings for homeowners. Interim CEO Mark Babcock emphasized the importance of partnerships in driving clean energy adoption, while Star Charge's CEO, Toni Cheng, noted the synergy between EVs and solar technology.

Maxeon Solar Technologies (NASDAQ: MAXN) announced a leadership transition, with CEO Jeff Waters stepping down effective September 15, 2022. Chief Revenue Officer Mark Babcock will take over as interim CEO, supported by Waters until the end of the month. Waters significantly contributed to Maxeon's growth, overseeing the establishment of its leadership team and operational expansion. The Board has engaged an external firm to search for a permanent CEO as Maxeon prepares for further growth, including new product launches and U.S. manufacturing opportunities.

Maxeon Solar Technologies reported strong Q2 2022 results, achieving record EU revenues in direct-to-installer and utility-scale segments. Shipments increased to 521 MW, with revenues reaching $238 million, up from $176 million year-over-year. However, gross loss expanded to $39 million. A $207 million convertible bond issuance was secured for Maxeon 7 projects in the Philippines and Mexico, reflecting investor confidence. For Q3 2022, the company anticipates shipments of 580-620 MW and revenue of $270-$290 million, with a projected gross loss of $10-$20 million.

Maxeon Solar Technologies (NASDAQ:MAXN) announced the release date for its second quarter 2022 financial results, set for August 18, 2022. The earnings press release will be accessible on Maxeon's Investor Relations website. Following the results announcement, the Company will host a conference call on the same day at 5:30 PM EST, to discuss the financials and provide business updates. The audio of the call will be available live and through a webcast replay for a year.

Maxeon Solar Technologies (NASDAQ: MAXN) expressed strong support for the Inflation Reduction Act of 2022, emphasizing its potential to bolster U.S. solar manufacturing. CEO Jeff Waters highlighted that the proposed legislation could facilitate a 3-gigawatt solar manufacturing facility in the U.S., which has already undergone site selection and preliminary engineering studies. Maxeon aims to enhance the domestic solar supply chain and reduce reliance on imports, championing significant investment for renewable energy growth.

Maxeon Solar Technologies (NASDAQ:MAXN) appointed Kris Sennesael to its Board of Directors, effective immediately, as well as Chair of the Audit Committee. With over 25 years of experience, including a CFO role at Skyworks Solutions, Sennesael is expected to bring valuable insights to the company. He replaces Kevin Kennedy, who resigned on June 1, 2022. CEO Jeff Waters expressed confidence in Sennesael's ability to contribute to Maxeon’s global growth strategy. Maxeon is known for its solar technology innovation, operating in over 100 countries.

Maxeon Solar Technologies (NASDAQ:MAXN) reported Q1 2022 results, showing a revenue increase to $223.1 million, up 35% year-over-year, despite a gross loss of $12.9 million. European module sales surged over 75%, while U.S. utility-scale shipments began. The company is ramping up production with Maxeon 6 and Performance lines, targeting profitability by 2023. The Q2 outlook suggests revenue between $215 million and $230 million, with anticipated shipments of 460-490 MW, but expects a gross loss between $15 million and $25 million due to supply chain challenges.