MAXEON SOLAR TECHNOLOGIES Reports 46.3% Increase in Total Revenue for Q2 FY2023
August 17, 2023
☀️Earnings Overview
For the second quarter of fiscal year 2023 ending June 30 2023, MAXEON SOLAR TECHNOLOGIES ($NASDAQ:MAXN) reported total revenue of USD 348.4 million, a 46.3% increase year over year. Net income for the same quarter was USD -1.5 million, a marked improvement from the -87.9 million reported for the same period in the prior year. These results were announced on August 10 2023.
Analysis
GoodWhale recently conducted an in-depth analysis of MAXEON SOLAR TECHNOLOGIES in terms of their overall wellbeing. According to their Risk Rating, MAXEON SOLAR TECHNOLOGIES is considered to be a medium risk investment, both in terms of financial and business aspects. GoodWhale also discovered 1 potential risk warning in the cashflow statement. To access this information and to get more detailed insights, users must become registered users on the GoodWhale platform. This will allow them to obtain a better understanding of MAXEON SOLAR TECHNOLOGIES’s wellbeing and make more informed decisions regarding their investments. 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 financials for the second quarter of FY2023, with total revenue rising to USD 348.4 million, a 46.3% increase year over year. Net income improved significantly from a loss of -87.9 million in the same quarter of the prior year, to a loss of -1.5 million in the reported quarter. This indicates that the company is on track to become profitable in the near future and may be considered a good investment option. Investors should be aware that financial results are highly dependent on the industry climate and MAXEON SOLAR TECHNOLOGIES may be subject to market fluctuations and other risks.
Related Posts
Recent Posts
