Why Is SunPower Stock Shooting Upwards Thursday?



SunPower Corp (NASDAQ:SPWR) reported a fourth-quarter FY23 revenue decline of 28.3% year-on-year to $356.91 million, missing the consensus of $362.85 million.

The residential solar technology and energy services provider’s adjusted EPS loss of 51 cents missed the consensus loss of 24 cents. The stock price gained Thursday after the results and funding update.

SPWR added 16,000 customers.
Adjusted gross margin declined to 4.5% from 23.0% a year ago.
Adjusted EBITDA declined to $(67.6) million, down from $30.6 million a …

Full story available on Benzinga.com


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