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SunPower Corp (SPWR.O)

SPWR.O on Nasdaq

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Latest Key Developments (Source: Significant Developments)

SunPower reports qtrly GAAP revenue $399.1 million
Tuesday, 9 May 2017 04:05pm EDT 

May 9 (Reuters) - SunPower Corp :SunPower Corp says qtrly GAAP revenue $399.1 million versus $384.9 million.SunPower Corp says qtrly non-GAAP revenue $429.5 million versus $433.6 million.SunPower Corp qtrly GAAP net loss per diluted share $0.97.Sees revenue of $1.8 billion to $2.3 billion on a GAAP basis and $2.1 billion to $2.6 billion on a non-GAAP basis in 2017.SunPower Corp qtrly non-GAAP net loss per diluted share $0.36.SunPower reports first quarter 2017 results.Sees capital expenditures of approximately $120 million in 2017.Sees gigawatts (gw) deployed in range of 1.3 gw to 1.6 gw in 2017.SunPower Corp says company expects to record GAAP restructuring charges totaling $50 million to $100 million in fiscal year 2017.FY2017 earnings per share view $-1.00, revenue view $2.25 billion -- Thomson Reuters I/B/E/S.Q1 earnings per share view $-0.51, revenue view $366.4 million -- Thomson Reuters I/B/E/S.Sees Q2 revenue of $275 million to $325 million.Q2 earnings per share view $-0.34, revenue view $500.8 million -- Thomson Reuters I/B/E/S.Sees Q2 gross margin of negative 3 percent to negative 1 percent; sees Q2 net loss of $135 million to $110 million.Sunpower corp says on a non-GAAP basis, company expects revenue of $275 million to $325 million in Q2.Sees adjusted EBITDA of negative $25 million to breakeven in Q2.Sees megawatts deployed in range of 330 mw to 360 mw in Q2.On a non-GAAP basis, sees Q2 gross margin of 2 percent to 4 percent.  Full Article

Tianjin Zhonghuan Semiconductor signs JV deal, boosts units' capital
Wednesday, 22 Feb 2017 05:00am EST 

Tianjin Zhonghuan Semiconductor Co Ltd <002129.SZ> : Says it plans to set up JV SunPower Systems International Ltd in Hong Kong with Dongfang Electric Corporation, Sunpower Energy Corporation Ltd .Says it plans to boost two units' capital by a combined 532.5 million yuan ($77.42 million).  Full Article

SunPower says expect panel pricing to be volatile in 2017
Wednesday, 15 Feb 2017 05:36pm EST 

SunPower Corp - : Says expect panel pricing to be volatile through 2017 - Conf call Further company coverage: [SPWR.O] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

Sunpower sees indications of price stabilization in some markets
Wednesday, 15 Feb 2017 05:35pm EST 

Sunpower Corp - : Says expects no change to the current investment tax credit policy structure - conf call . Says expects some type of corporate tax reform over the next 12 to 18 months - conf call . Says already seeing some indications of price stabilization in certain markets and geographies - conf call . Says residential demand remains solid in all key markets although overall market growth has slowed in California - conf call . Says power plant business remains challenging with PPA pricing under considerable near-term pressure- conf call . Expect further market expansion over next three years driven primarily by decline in cost of solar power - conf call . Expect restructuring efforts to be complete by midyear, to see benefits of actions towards the back half of 2017 - conf call Further company coverage: [SPWR.O] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

Sunpower says Q1 residential growth rate is not what was expected
Wednesday, 15 Feb 2017 05:19pm EST 

Sunpower Corp - : Expect cash to decline in Q1, Q2 and non recourse debt to rise as co builds out projects; expects to monetize projects in H2 2017 - Conf call . Says Q1 residential growth rate is not what was expected - Conf call Further company coverage: [SPWR.O] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

Duke Energy Renewables acquires three California solar projects from Sunpower
Tuesday, 10 Jan 2017 08:30am EST 

Sunpower Corp : Duke energy renewables acquires three california solar projects from sunpower . Duke energy renewables says has acquired three solar power projects from sunpower corp totaling 55 megawatts . Duke energy - acquired three solar power projects from sunpower corp. Totaling 55 megawatts .Duke energy renewables -acquisition was completed in late december, same month facilities were placed in service.  Full Article

Sunpower says there is no significant reduction in capacity from China
Wednesday, 7 Dec 2016 09:44am EST 

Sunpower Corp :Sunpower corp ceo says broadly, there is no significant reduction in capacity from china.  Full Article

Sunpower sees some price stabilization in 2017 - Conf call
Wednesday, 7 Dec 2016 09:39am EST 

Sunpower Corp : Sunpower Corp CEO says expects earnings growth in 2018 to be a "significant improvement" from 2017 . Sunpower corp says sees some price stabilization in 2017 - conf call . Sunpower Corp CEO says expect to start seeing improvement in the solar industry in the back half of next year - conf call . Sunpower Corp says power plant business won't grow as fast as previously projected - conf call .Sunpower Corp says expect overall residential volumes and commercial volumes to improve in 2017 over 2016 - conf call.  Full Article

Sunpower to close its Philippine-based Fab 2 manufacturing facility
Wednesday, 7 Dec 2016 08:00am EST 

Sunpower Corp : Sunpower Corp - Board of directors approved closure of company's philippine-based fab 2 manufacturing facility . Sunpower-On Dec. 2, compensation committee approved extension of reduction of salary of thomas werner to $1, net of benefit costs, through end of q1 .Sunpower Corp - extension was at Werner's request in light of continued market dislocation and need to reduce operating expenses..  Full Article

SunPower to cut about 25 pct of its workforce
Wednesday, 7 Dec 2016 07:59am EST 

SunPower Corp : SunPower Corp - to implement a global workforce reduction of approximately 25 percent or 2,500 employees . SunPower Corp - to substantially decrease 2016 inventory to improve working capital and de-lever its balance sheet . To reduce 2017 annual operating expenses to less than $350 million . SunPower Corp - reduce annual 2017 capital expenditure by more than 50 percent to approximately $100 million . SunPower Corp - will record restructuring charges of at least $150 million on a GAAP basis in Q4 of 2016 . Sees 2017 revenue of $1.8 billion to $2.3 billion on a gaap basis and $2.1 billion to $2.6 billion on a non-gaap basis . SunPower Corp - will record a Q4 GAAP and non-GAAP charge in range of $50 million to $55 million as a result of anticipated sale of above market Polysilicon . Approximately 30 percent of restructuring charges will be in cash . To substantially decrease 2016 inventory to improve working capital and de-lever its balance sheet . SunPower Corp - expects to incur total restructuring charges of $225 million to $275 million through end of 2017 . SunPower Corp - will record restructuring charges of at least $150 million on a GAAP basis in Q4 of 2016 . As a result of restructuring, expects to incur total restructuring charges of $225 million to $275 million through end of 2017 . SunPower Corp - expects to generate positive cash flow from operations through end of fiscal year 2017.  Full Article

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SunPower sees bigger-than-expected second-quarter loss, shares fall

U.S. solar company SunPower Corp reported a smaller-than-expected loss on Tuesday but forecast second-quarter earnings below analysts' estimates.