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SunPower Corp (SPWR.O)

SPWR.O on Nasdaq

7.89USD
17 Feb 2017
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$1.13 (+16.72%)
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Latest Key Developments (Source: Significant Developments)

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

SunPower plans to drop-down minority stake in Henrietta project to 8POINT3 Energy - Conf Call
Tuesday, 9 Aug 2016 05:51pm EDT 

SunPower Corp : SunPower Corp CEO says beyond 2016, expect that the pace of U.S. power plant project deployments will be reduced for the next two years - Conf call . Plan to drop-down the remaining minority stake in Henrietta project to 8POINT3 Energy, before the end of the year . SunPower Corp CEO says "will reduce my cash salary and bonus to $1 for the balance of the year " - Conf call Further company coverage: [SPWR.O] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Sunpower says expects workforce reduction of about 15 pct
Tuesday, 9 Aug 2016 05:21pm EDT 

Sunpower Corp : Gaap revenue $401.8 million versus $376.7 million last year . Sunpower reports second quarter 2016 results . Sees fy 2016 revenue $2.8 billion to $3.0 billion . Qtrly non-gaap net income loss per diluted share $0.22 . Q2 earnings per share view $-0.24, revenue view $345.1 million -- Thomson Reuters I/B/E/S . Sunpower corp sees q3 2016 gaap revenue of $700 million to $800 million . Realigning manufacturing operations to increase relative mix of x-series capacity . Sunpower corp says expects workforce reduction of approximately 15 percent or 1,200 employees . Substantial portion of charges to be incurred in q3 of 2016 with more than 50 percent of total charges to be cash . On a gaap basis, now expects 2016 gross margin of 9.5 percent to 11.5 percent and net loss of $175 million to $125 million . Gaap revenue of $3.0 billion to $3.2 billion . Fy2016 earnings per share view $1.36, revenue view $3.29 billion -- Thomson Reuters I/B/E/S . Q3 earnings per share view $0.81, revenue view $1.13 billion -- Thomson Reuters I/B/E/S . Sunpower corp says q2 gaap revenue $420.5 million versus $381 million last year . Qtrly loss per share $0.51 . Gaap basis, in q3 2016, company expects revenue of $750 million to $850 million . To utilize equipment from some of older solar cell manufacturing lines in fab 2 to debottleneck capacity in order to increase supply of x-series panels.  Full Article

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SunPower sees intense competition in solar this year

U.S. solar company SunPower Corp warned on Wednesday that pricing would be extremely competitive for the rest of year and said customer concerns about potential changes in U.S. tax policy were slowing some sales.