MAXEON SOLAR TECHNOLOGIES Reports 46.3% Increase in Revenue for FY2023 Q2
August 23, 2023
☀️Earnings Overview
MAXEON SOLAR TECHNOLOGIES ($NASDAQ:MAXN) reported its financial results for the second quarter of fiscal 2023, ended June 30 2023. This revealed total revenue of USD 348.4 million, representing an increase of 46.3% from the previous year’s figure. Net income for Q2 was USD -1.5 million, a marked improvement over the previous year’s -87.9 million.
Analysis
GoodWhale’s Star Chart analysis of MAXEON SOLAR TECHNOLOGIES reveals that the company has a low health score of 3/10 when considering its cashflows and debt. This suggests that MAXEON SOLAR TECHNOLOGIES is less likely to be able to sustain operations in times of financial crisis. MAXEON SOLAR TECHNOLOGIES is classified as a ‘cheetah’, a company that has achieved high revenue or earnings growth but is considered to be less stable because of its lower profitability. When it comes to investors interested in MAXEON SOLAR TECHNOLOGIES, it is important to note that the company is strong in medium in asset, growth, and weak in dividend and profitability. Investors who are drawn to this type of company should be aware of the risks associated with a company that may not be able to sustain operations during a financial downturn. However, those who are confident in the growth potential of MAXEON SOLAR TECHNOLOGIES may find attractive opportunities with the company. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MAXN. More…
| Total Revenues | Net Income | Net Margin |
| 1.27k | -101.63 | -8.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MAXN. More…
| Operations | Investing | Financing |
| -26.57 | -124.23 | 366.52 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MAXN. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.45k | 1.18k | 5.08 |
Key Ratios Snapshot
Some of the financial key ratios for MAXN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.7% | – | -1.7% |
| FCF Margin | ROE | ROA |
| -7.2% | -8.0% | -0.9% |
Peers
In the solar panel market, Maxeon Solar Technologies Ltd competes with Hengs Technology Co Ltd, Clear Blue Technologies International Inc, and Ascent Solar Technologies Inc. The company has a strong focus on research and development, which has helped it to maintain a leading position in the market. Maxeon Solar Technologies Ltd’s competitiveness is based on its efficient production process, innovative products, and excellent customer service.
– Hengs Technology Co Ltd ($TPEX:4582)
Hengs Technology Co Ltd is a publicly traded company with a market capitalization of 1.81B as of 2022. The company has a return on equity of 3.18%. Hengs Technology Co Ltd is engaged in the development, manufacturing, and marketing of computer hardware products. The company offers a variety of products, including desktop computers, notebooks, motherboards, and graphics cards. Hengs Technology Co Ltd has a strong presence in the Chinese market and is expanding its operations into other markets, such as the United States and Europe.
– Clear Blue Technologies International Inc ($TSXV:CBLU)
Return on equity is a profitability ratio that measures how well a company generates profits from its shareholders’ equity. It can be calculated by dividing a company’s net income by its shareholders’ equity.
Clear Blue Technologies International Inc is a Canadian cleantech company that develops and manufactures smart off-grid solar solutions for the global marketplace. The company’s products are used in a variety of applications, including remote telecommunications, oil and gas, marine, lighting, security, and utilityscale solar projects.
Summary
MAXEON SOLAR TECHNOLOGIES reported strong financial results for Q2 of its FY2023, with total revenue increasing 46.3% year over year to USD 348.4 million. Net income was USD -1.5 million, a significant improvement from -87.9 million the year prior. This positive performance indicates a strong outlook for the company’s future growth.
Investors should take note and consider investing in MAXEON SOLAR TECHNOLOGIES before the stock prices potentially rise. A diversified portfolio with exposure to the renewable energy sector may be a suitable way to benefit from the company’s increasing success.
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