SunPower Is Become a Growth Stock Again

sunpower is become a growth stock again

The stock market certainly didn’t like SunPower’s (NASDAQ:SPWR) earnings report on Wednesday, and the stock dropped double digits as a result. Consensus seems to be that the market wasn’t happy with “only” a 35% growth projection for 2021, despite that being the best growth the company has reported in years. 

While the initial reaction may have been negative, there were some positive trends for SunPower. The company’s margins are improving, energy storage is growing, and the recent blackouts in Texas could open up a massive market to solar and energy storage. Here’s what you should know. 

Image source: SunPower.

Behind the numbers

On the surface, SunPower’s quarter didn’t look all that impressive. Revenue was down 14.9% from a year ago to $341.8 million, and adjusted net income was just $26.6 million, or $0.14 per share. But the trends within those numbers are impressive. 

The drop in revenue shouldn’t be surprising since SunPower spun off its manufacturing business, Maxeon Solar Technologies, in 2020. What was critical to the company’s future is the increase in residential solar margin from 18% in the third quarter to 24% in the fourth quarter, and commercial and industrial gross margin coming in at 18% after years of hovering in the single digits…

Want to know more click here go to source.

From -
Close
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close