SUNPOWER CORPORATION Reports 11.0% Increase in Revenue for FY2023 Q2
August 15, 2023
☀️Earnings Overview
At the close of the second quarter of fiscal year 2023 (ending on June 30, 2023), SUNPOWER CORPORATION ($NASDAQ:SPWR) reported total revenue of USD 463.9 million, a 11.0% increase from the same period the year before. Net income was reported as USD -33.1 million, showing a decrease from the previous year’s figure of USD -63.1 million.
Analysis
GoodWhale has performed an analysis of SUNPOWER CORPORATION‘s wellbeing and have concluded that they are strong in assets, medium in growth, and weak in dividend and profitability. Based on this information, the company has been classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. When looking at SUNPOWER CORPORATION’s health score of 3/10 with regard to cashflows and debt, it is likely that they may struggle to pay off debt and fund future operations, making them an attractive investment opportunity for investors looking for high-risk/high-reward ventures. This type of investor is unafraid to take risks and can be confident that the potential rewards outweigh the potential losses of investing in a company such as SUNPOWER CORPORATION. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sunpower Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.88k | 63.27 | 3.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sunpower Corporation. More…
| Operations | Investing | Financing |
| -169.25 | 288.04 | -216.16 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sunpower Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.57k | 1.1k | 2.72 |
Key Ratios Snapshot
Some of the financial key ratios for Sunpower Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -0.1% | 5.2% | 5.3% |
| FCF Margin | ROE | ROA |
| -12.1% | 12.6% | 3.9% |
Peers
Solar panel technology has come a long way in recent years, and SunPower Corp has been at the forefront of this innovation. The company’s unique technology has allowed it to become one of the leading manufacturers of solar panels in the world. However, SunPower Corp is not without competition. Enphase Energy Inc, Central Development Holdings Ltd, and PT Sky Energy Indonesia Tbk are all leading solar panel manufacturers that are vying for market share.
– Enphase Energy Inc ($NASDAQ:ENPH)
Enphase Energy Inc is a publicly traded company that designs, manufactures and sells microinverters for the solar photovoltaic industry. Enphase has a market cap of $32.82B as of 2022 and a Return on Equity of 58.92%. The company was founded in 2006 and is headquartered in Fremont, CA.
– Central Development Holdings Ltd ($SEHK:00475)
Central Development Holdings Ltd is a property development and investment company based in Hong Kong. The company’s market cap as of 2022 was 251.92M and its ROE was -15.66%. Central Development Holdings Ltd’s primary business activity is the development of residential and commercial properties in Hong Kong. The company also has a portfolio of investment properties in Mainland China.
– PT Sky Energy Indonesia Tbk ($IDX:JSKY)
Sky Energy Indonesia Tbk is the largest Indonesian-based integrated energy company with operations in exploration and production, refining, marketing and trading, power generation, and mining. The company has a market capitalization of $105.69 billion as of 2022 and a return on equity of -22.56%.
Sky Energy Indonesia Tbk is a vertically integrated energy company with operations in exploration and production, refining, marketing and trading, power generation, and mining. The company has a strong presence in the Indonesian energy market and is the largest Indonesian-based integrated energy company. The company has a market capitalization of $105.69 billion as of 2022 and a return on equity of -22.56%. Sky Energy Indonesia Tbk is a well-positioned to benefit from the growing demand for energy in Indonesia and the Asia Pacific region.
Summary
SUNPOWER CORPORATION reported total revenue of USD 463.9 million for the end of its fiscal year 2023 Q2, a 11.0% increase from last year. Net income was USD -33.1 million, a decrease from the prior year’s USD -63.1 million. While the total revenue increased, the net income dropped significantly, indicating that the company may still be facing challenges that need to be addressed. Investors should cautiously consider any investment in the company as it may be risky given the current performance.
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