SUNPOWER CORPORATION Reports Second Quarter Earnings Results for FY2023
August 22, 2023
🌥️Earnings Overview
On August 1 2023, SUNPOWER CORPORATION ($NASDAQ:SPWR) reported its financial results for the second quarter of FY2023, which ended on June 30 2023. Revenue for the quarter was USD 463.9 million, an increase of 11.0% year-over-year. Net income for the period was USD -33.1 million, compared to the -63.1 million reported in the same quarter of the previous year.
Market Price
The company’s stock opened the trading day at $9.9 and ended the day with the same value, showing no significant changes in price. Overall, SUNPOWER CORPORATION reported modest gains in its second quarter financial results. The company’s stock remained unchanged, signalling confidence among investors in the company’s financial performance. Live Quote…
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% |
Analysis
GoodWhale has assessed SUNPOWER CORPORATION‘s financials and the verdict is clear: this company is a high risk investment. Our Risk Rating algorithm has detected 4 risk warnings in the company’s income sheet, balance sheet, cashflow statement, and financial journal. We recommend further research and caution before investing. By signing up for our website, you can view the risk warnings in detail and assess the company’s financial health. Additionally, you can compare SUNPOWER CORPORATION to other companies of similar size and industry to evaluate their relative financial health. With GoodWhale, you have access to the latest financial data and analytics required to make informed decisions. Sign up now to learn more about SUNPOWER CORPORATION’s financial health. More…
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 its financial results for Q2 FY 2023, indicating a 11.0% year-on-year revenue growth to $463.9 million. Net income improved significantly to -$33.1 million from -$63.1 million during the same period in the previous year, demonstrating a successful turnaround in the company’s financials. For investors, SUNPOWER CORPORATION presents an attractive opportunity with its positive operational momentum and low valuation level. With its strong balance sheet, investors can expect a potential increase in dividend payouts and share repurchases in the coming quarters.
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