Complete Solaria Inc. Stock Price, News & Analysis

SunPower Corp. (NASDAQ:SPWR) will share its third-quarter 2020 financial results on a conference call scheduled for October 28, 2020, at 1:30 p.m. Pacific Time. Interested parties can participate by calling (877) 371-5747 and using the passcode 'SunPower'. A live webcast will also be available on SunPower's official investors' website starting from 1:05 p.m. Pacific Time the same day. The earnings press release and supplemental financial data will be published on the website prior to the call.

SunPower (NASDAQ:SPWR) announced adjustments to the conversion rates for its Senior Convertible Debentures. Effective September 11, 2020, the conversion rate for the 2021 Debentures is now 25.1388 shares per $1,000 principal, translating to a conversion price of $39.78. For the 2023 Debentures, the new rate is 40.1552 shares per $1,000 principal, equivalent to a conversion price of $24.90. These changes reflect an increase from previous rates, aligning with the terms of the indentures governing the Debentures.

SunPower (NASDAQ:SPWR) issued its financial guidance for Q4 2020 and fiscal year 2020 post the Maxeon Solar spin-off. For Q4 2020, GAAP revenue is projected at $330 to $370 million, with net income between $0 and $10 million. Adjusted EBITDA is estimated at $20 to $30 million. For the entire fiscal year, GAAP revenues are expected between $1.06 and $1.10 billion, and net income to be from $30 to $40 million. The company will discuss these metrics during its virtual Capital Markets event on Sept. 10, 2020.

SunPower Corp. (NASDAQ:SPWR) introduced new low-APR loans for U.S. residential solar customers, aiming to enhance accessibility to solar energy. With rates as low as 0.99% APR, homeowners can secure affordable financing, allowing them to invest in solar systems for under $100 monthly. The company reported a 50% increase in customer-requested consultations in Q3 2020 compared to 2019. This initiative is aligned with the growing trend of customer ownership in solar installations and supports SunPower's objective of becoming a leading energy services provider in North America.

SunPower (NASDAQ:SPWR) will host a virtual capital markets event on Sept. 10, 2020, at 5:30 am Pacific Time. The event will be accessible on their website. Key leadership, including CEO Tom Werner and CFO Manavendra Sial, will discuss the company's strategy, financials, and business differentiators. With a focus on distributed generation, storage, and energy services, SunPower offers innovative solar solutions aimed at enhancing energy independence and cost savings for various sectors.

SunPower Corp. (NASDAQ:SPWR) reported strong Q2 2020 results, exceeding revenue and margin forecasts despite COVID-19 disruptions. Key highlights include a cash generation of approximately $30 million and successful product launches like the SunVault storage solution. However, GAAP revenue was $352.9 million, down from $436.3 million in Q2 2019, with a GAAP gross margin of 6.1%. Non-GAAP net loss was $37.2 million. The company anticipates Q3 revenue between $360 million and $400 million, alongside ongoing efforts to improve growth and market positioning post-Maxion spin-off.

SunPower Corp. (NASDAQ:SPWR) announced the effectiveness of Maxeon Solar Technologies' Form 20-F Registration Statement, a key step in Maxeon's planned spin-off. The spin-off is set for August 26, 2020, where SunPower shareholders will receive one Maxeon share for every eight shares held. Post spin-off, Maxeon aims to expand internationally with substantial capital investments. SunPower expects to solidify its position as a leading North American distributed generation firm with over 3.5 gigawatts of installed capacity. The spin-off should not incur tax liabilities for shareholders.

Maxeon Solar Technologies, a planned spin-off from SunPower Corp. (NASDAQ:SPWR), has unveiled its new SunPower Performance 5 panels, designed for large-scale solar power plants. These fifth-generation bifacial panels boast an efficiency exceeding 21% and power ratings up to 625 watts. Commercialization is set for Q4 2020. Maxeon’s collaboration with Tianjin Zhonghuan Semiconductor Co. aims to expand their Huansheng Photovoltaic joint venture's capacity from 2 GW to 8 GW by 2021, enhancing manufacturing capabilities and reinforcing its market position.

SunPower Corp. (NASDAQ:SPWR) will report its second-quarter 2020 financial results on a conference call scheduled for Wednesday, August 5 at 1:30 PM PT. Investors can participate via phone at (877) 371-5747 or through a webcast on SunPower's website. The earnings release and additional financial details will be accessible online at 1:05 PM PT on the same day. Known for its solar solutions, SunPower has over 30 years of experience serving various customers globally.