SPWR

SunPower Q4 Results Miss Estimates; Raises $175 Mln In New Capital Financing; Stock Up 8%

(RTTNews) - SunPower Corp. (SPWR) announced Thursday a net loss attributable to stockholders for the fourth quarter of $123.90 million or $0.71 per share, compared to net income of $3.43 million or $0.02 per share in the prior-year quarter.

Net loss from continuing operations for the quarter was $0.66 per share, compared to net income of $0.03 per share last year.

Excluding items, adjusted net loss from continuing operations for the quarter was $0.51 per share, compared to adjusted net income of $0.11 per share last year.

Total revenue for the quarter declined to $356.91 million from $497.97 million in the same quarter last year. Adjusted revenue was $361.25 million.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.24 per share on revenues of $362.85 million for the quarter. Analysts' estimates typically exclude special items.

The company also announced it raised $175 million in new capital financing from TotalEnergies and Global Infrastructure Partners. As a part of the transaction, the Company also received $25 million of revolving debt capacity as part of new long-term waivers from key financial partners.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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