earnings
confidence high
sentiment negative
materiality 0.80
Complete Solar reports combined Q3 revenue $117M, operating loss $40M; Q4 guided to $80M rev
SunPower Inc.
2024-Q3 EPS reported
-$1.67
revenue$20,068,000
- Combined Q3'24 revenue $117.3M (3 divisions) with operating loss $40.0M including bankruptcy write-offs and high costs.
- Pre-merger old Complete Solar Q3 rev $5.5M, GAAP operating loss $29.8M; non-GAAP operating loss $6.5M.
- Q4'24 revenue guidance $80M (down sequentially), operating loss expected $2-11M from headcount reductions.
- Raised $80M in convertible debt; Q3'24 opex $43.5M targeted to drop to $17.0M in Q4.
- Acquired SunPower's New Homes, Blue Raven, Dealer and brand; hired 1,204 SunPower employees (from 65).