SPWR - SunPower Corporation

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
8.30
+0.32 (+4.01%)
At close: 4:00PM EST

8.33 +0.03 (0.36%)
After hours: 4:34PM EST

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Previous Close7.98
Open8.05
Bid8.28 x 29200
Ask8.35 x 3200
Day's Range8.04 - 8.40
52 Week Range4.55 - 16.04
Volume1,952,453
Avg. Volume3,322,420
Market Cap1.182B
Beta (3Y Monthly)2.23
PE Ratio (TTM)N/A
EPS (TTM)-1.00
Earnings DateFeb 11, 2020 - Feb 17, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est10.00
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  • One of America's Biggest Solar Panel Makers Quits Manufacturing
    Investor's Business Daily

    One of America's Biggest Solar Panel Makers Quits Manufacturing

    SunPower Corp. (SPWR), one of America's largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop solar systems. The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement Monday. As part of...

  • One of America’s Biggest Solar Panel Makers Quits Manufacturing
    Bloomberg

    One of America’s Biggest Solar Panel Makers Quits Manufacturing

    (Bloomberg) -- SunPower Corp., one of America’s largest solar-panel makers, is giving up its manufacturing business to focus on installing rooftop solar systems.The company is spinning off its panel production operations into a new company, Maxeon Solar, that will be based in Singapore with factories in France, Malaysia, Mexico and the Philippines, according to a statement Monday. As part of the deal, a Chinese supplier of silicon wafers will make a $298 million equity investment, valuing Maxeon at $1.03 billion.SunPower described the move as a natural evolution of the maturing solar business. Panel makers once had to help create their own market by installing the equipment they manufactured. Now the market is big enough for companies to specialize in one or the other. First Solar Inc., the largest U.S. panel maker, walked away in September from the business of building solar farms to focus on manufacturing. SunPower is moving in the opposite direction.Read More: First Solar Getting Out of the Business of Building Solar Farms“As the industry gets bigger, you get companies that specialize,” SunPower Chief Executive Officer Tom Werner said in an interview. “It’s part of the mainstreaming of solar.”The spin-off means the U.S. is losing a major panel maker just as U.S. President Donald Trump tries to preserve solar manufacturing jobs at home. The Trump administration imposed tariffs on solar equipment imports last year in an effort to provide domestic manufacturers with a level playing field. SunPower had won an exemption to the duties for the panels it made overseas because of the premium, high-efficiency nature of its products.Werner will continue to run SunPower, based in San Jose, and hold onto a small panel factory in Oregon.Jeff Waters, who leads SunPower’s technologies business unit, will become CEO of Maxeon, after the tax-free spin-off is complete in the second quarter.SunPower panels are known for being the most efficient in the industry, able to convert more of the energy in sunlight into electricity. That can give its panels an advantage for space-constrained installations like rooftops, though they can also be more expensive than rivals’ products.Chinese StakeTianjin Zhonghuan Semiconductor Co. will own almost 29% of Maxeon after its equity investment, and existing SunPower shareholders will own the rest. SunPower is majority-owned by the French oil giant Total SA. Shares rose 1.2% to close at $8.47 in New York Monday.In the early days of renewable energy, SunPower and First Solar both built and sold some of the biggest U.S. solar farms. That strategy was born in part by a need for the panel producers to create markets for their products, according to Pavel Molchanov, an analyst with Raymond James & Associates.Renewables have become more common since then, and the price for solar panels has plunged. Companies are now choosing to specialize in an effort to find an edge over their rivals. “The one-stop-shop of 10 years ago is largely in the rear-view mirror,” Molchanov said.First Solar sees that edge in manufacturing. It rolled out its flagship Series 6 product and just started production at a new $1 billion factory in Ohio. In September, the company said it would move away from building power plants.SunPower said it will focus on installing residential and commercial rooftop solar projects. It’s already one of the biggest suppliers, competing against Sunrun Inc., Vivint Solar Inc and Tesla Inc.’s energy unit. That market is expected to grow after a California law that requires solar panels on most new houses takes effect in January, and Werner said he has deals to supply 18 major home builders.To contact the reporter on this story: Will Wade in New York at wwade4@bloomberg.netTo contact the editor responsible for this story: Lynn Doan at ldoan6@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • SunPower: Hillsboro operations will continue after big manufacturing spinoff
    American City Business Journals

    SunPower: Hillsboro operations will continue after big manufacturing spinoff

    SunPower paid $26 million for the Hillsboro plant last year, in the wake of the collapse of SolarWorld’s German corporate parent.

  • SunPower rises on plan to split the company in two
    American City Business Journals

    SunPower rises on plan to split the company in two

    SunPower shares jumped Monday morning on a plan to spin off its manufacturing operations as a new company.

  • MarketWatch

    SunPower's stock rallies after plan to separately into 2 publicly traded companies

    Shares of SunPower Corp. surged 5.1% in premarket trading Monday, after the solar power company, which is owned by France-based oil company Total S.A. , announced plans to separate into two independent publicly traded companies. After the separation, SunPower will focus on solar systems and storage and energy services, while Maxeon Solar Technologies will be headquartered in Singapore and will focus on bringing its solar panel technology to high-volume scale. As part of the separation, China-based Tianjin Zhonghuan Semiconductor Co. Ltd. will make a $298 million equity investment in Maxeon for a 28.85% stake in Maxeon post-separation. SunPower's stock has tumbled 41.5% over the past three months, while the S&P 500 has gained 6.0%.

  • Benzinga

    SunPower To Receive $298M Equity In Company Split

    SunPower (NASDAQ: SPWR ) announced it plans to separate into two independent publicly-traded companies: SunPower and Maxeon Solar Technologies. Maxeon Solar will be the manufacturer and marketer of premium ...

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  • Barrons.com

    SunPower Stock Is Rising on Plan to Split Company Into Two

    The solar energy company will become one company focused on energy services and another making solar panels.

  • Reuters

    UPDATE 3-SunPower to spin off solar panel manufacturing, shares rise

    U.S. solar company SunPower said on Monday it will split into two publicly traded companies, separating most of its solar panel manufacturing operations from storage and energy services, sending its shares up as much as 15%. The move was intended to boost value in SunPower shares, which are trading at the same level they were at two years ago. The new solar panel company, named Maxeon Solar Technologies, will be headquartered in Singapore, with manufacturing operations in France, Malaysia, Mexico and the Philippines.

  • SunPower to spin off solar panel manufacturing, shares rise
    Reuters

    SunPower to spin off solar panel manufacturing, shares rise

    The move was intended to boost value in SunPower shares, which are trading at the same level they were at two years ago. The new solar panel company, named Maxeon Solar Technologies, will be headquartered in Singapore, with manufacturing operations in France, Malaysia, Mexico and the Philippines. The remaining company will still be based in California and will retain the SunPower name.

  • PR Newswire

    SunPower To Create Two Independent, Industry-Leading, Publicly-Traded Companies

    SAN JOSE, Calif., Nov. 11, 2019  SunPower (SPWR) today announced plans to separate into two independent, complementary, strategically-aligned and publicly-traded companies – SunPower and Maxeon Solar Technologies (Maxeon Solar). SunPower will continue as the leading North American distributed generation, storage and energy services company. Newly-formed Maxeon Solar will be the leading global technology innovator, manufacturer and marketer of premium solar panels.

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    SolarEdge's (SEDG) top line rises 73.5% year over year to $410.6 million in the third quarter on solid shipments.

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  • SunPower Corporation's (NASDAQ:SPWR) Profit Outlook
    Simply Wall St.

    SunPower Corporation's (NASDAQ:SPWR) Profit Outlook

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  • SunPower (SPWR) Q3 Earnings Top Estimates, Revenues Rise Y/Y
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    SunPower's (SPWR) reports adjusted revenues of $491.7 million, up 10.9% year over year.

  • SunPower Stock Surges after Strong Q3 Earnings
    Market Realist

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    SunPower (SPWR) surprised investors with strong third-quarter earnings on October 30. It reported EPS of $0.07, beating analysts' consensus estimate.

  • Thomson Reuters StreetEvents

    Edited Transcript of SPWR earnings conference call or presentation 30-Oct-19 8:30pm GMT

    Q3 2019 SunPower Corp Earnings Call

  • SunPower (SPWR) Q3 Earnings and Revenues Beat Estimates
    Zacks

    SunPower (SPWR) Q3 Earnings and Revenues Beat Estimates

    SunPower (SPWR) delivered earnings and revenue surprises of 800.00% and 5.90%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?