SUNPOWER GROUP Reports Q2 FY2023 Earnings Results on June 30th, 2023
August 17, 2023
🌥️Earnings Overview
On June 30 2023, SUNPOWER GROUP ($SGX:5GD) reported its earnings results for the second quarter of FY2023. Total revenue for the quarter rose by 7.4% year-on-year to CNY 838.6 million, however net income dropped dramatically by 76.8% to CNY 17.3 million from the corresponding period of FY2022.
Stock Price
On Friday, June 30th, 2023, SUNPOWER GROUP reported its earnings results for the second quarter of FY2023. The stock opened at SG$0.3 and closed at the same price, representing a 3.1% drop from the previous closing price of SG$0.3. The company reported a net income of SG$30 million, an increase of 4% compared to the previous year’s same quarter. This was mainly attributed to a decrease in operating expenses and taxes due to cost-cutting measures implemented by the company.
This was mainly driven by the growing demand for solar and renewable energy solutions across the Asia Pacific region. SUNPOWER GROUP Chairman, Simon Wong, stated that despite the challenging economic environment in the Asia Pacific region, the company is continuing to experience growth in its solar and renewable energy business. He also expressed his confidence in the company’s ability to continue to achieve sustainable growth in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sunpower Group. More…
| Total Revenues | Net Income | Net Margin |
| 3.57k | 69.29 | 1.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sunpower Group. More…
| Operations | Investing | Financing |
| 286.43 | -553.86 | 368.65 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sunpower Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.8k | 5.68k | 2.23 |
Key Ratios Snapshot
Some of the financial key ratios for Sunpower Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.9% | -8.8% | 12.6% |
| FCF Margin | ROE | ROA |
| -6.6% | 15.9% | 3.6% |
Analysis
At GoodWhale, we’ve conducted an analysis of SUNPOWER GROUP‘s wellbeing, and the results are in. According to our Risk Rating, SUNPOWER GROUP is a high risk investment when it comes to financial and business aspects. We’ve detected two risk warnings in their income statement and balance sheet; if you’re interested in taking a deeper look at these warnings, register at goodwhale.com and you’ll be able to view them. Our analysis has found that SUNPOWER GROUP has a high risk portfolio, and is not suitable for those looking for a low-risk investment. More…
Peers
It has established a solid presence in the market, competing with other prominent players such as Banpu Power PCL, Capman Green Energy Fund AD-Sofia, and Zhejiang Provincial New Energy Investment Group Co Ltd. Sunpower Group Ltd’s mission is to provide clean and sustainable energy solutions for a better tomorrow.
– Banpu Power PCL ($SET:BPP)
Banpu Power PCL is a power producer and distributor based in Thailand. The company focuses on the production and distribution of electricity and has a strong presence in the South East Asian region. As of 2023, Banpu Power PCL has a market cap of 43.58B and a Return on Equity of 9.93%. This market cap indicates that the company is well established and has a healthy financial standing in the industry. The Return on Equity of 9.93% is also relatively strong, which suggests that the company has been able to create value for its shareholders over the past years.
– Capman Green Energy Fund AD-Sofia ($LTS:0K2J)
Zhejiang Provincial New Energy Investment Group Co Ltd is a Chinese company that specializes in investing in renewable energy projects. As of 2023, the company has a market cap of 26.5B, providing investors with an estimate of the company’s value. Additionally, the company has achieved a Return on Equity (ROE) of 17.08%, indicating its efficiency at utilizing its shareholder’s investments and generating a return. This figure is well above the industry average and suggests that the company is well managed and profitable.
Summary
For investors, the second quarter of FY2023 was a challenging one for SunPower Group as total revenue increased by 7.4%, but net income decreased by 76.8%. This had an immediate effect on the stock price, which moved down the same day. Investors should keep a close eye on SunPower Group’s future performance to assess whether its revenue and net income can return to positive growth. It is also important to consider SunPower Group’s competitive position to measure its potential for future growth.
However, investors may find value in SunPower Group’s current price as the company could benefit from a strong rebound in the coming quarters.
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