Sunworks, Inc. (SUNW)
Chart Events
Performance Outlook
| Previous Close | 12.51 |
| Open | 12.15 |
| Bid | 11.45 x 800 |
| Ask | 11.52 x 1000 |
| Day's Range | 10.93 - 13.35 |
| 52 Week Range | 0.29 - 13.35 |
| Volume | 9,888,819 |
| Avg. Volume | 7,154,726 |
| Market Cap | 235.342M |
| Beta (5Y Monthly) | 2.24 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -1.16 |
| Earnings Date | Mar 29, 2021 - Apr 02, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 0.80 |
- GlobeNewswire
Sunworks Names Gaylon Morris as Chief Executive Officer
Transformational Leader with Established History of Driving Growth to Lead Sunworks Gaylon Morris Sunworks Names Gaylon Morris as Chief Executive OfficerROSEVILLE, Calif., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced that the company’s Board of Directors has appointed Gaylon Morris as its new Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. Morris is a transformational leader with a proven record of driving revenue growth and profitability in the construction, engineering, and renewable space. Mr. Morris joins Sunworks after two decades leading large-scale engineering and construction companies through transition and growth. Prior to joining Sunworks, Mr. Morris served as Business Strategist at Rosendin Electric, one of the largest electrical contractors, where he was responsible for identifying, researching, and developing go-to-market strategies to target new market opportunities. Before Rosendin Electric, he was Senior Vice President of Operations for Strategic Growth and Market Development at Cupertino Electric, Inc. (CEI), a large, national electrical contractor. At CEI, Mr. Morris was responsible for developing and successfully implementing strategies for CEI’s growth divisions, specifically in Modular Manufacturing, Renewable Energy (photovoltaics and storage), and Utility Electrical (transmission, distribution, and substation). Other previous experience includes senior executive roles at NTS Corporation, Methode Electronics and MET Laboratories, along with serving in the United States Navy, where he was a Submarine Service Reactor Plant Operator.Chuck Cargile, Sunworks’ Chairman of the Board said, “The Board believes Gaylon is the ideal CEO to lead Sunworks through its next growth phase. We are impressed by his established track record of driving profitable growth and his expertise transforming organizations in the engineering and construction industries. Additionally, we are optimistic as we enter 2021 - during the fourth quarter we raised more than $34 million in cash through our at-the-market equity sales, which extinguished our shelf registration filed on May 21, 2019. Under Gaylon’s leadership, we are confident that Sunworks’ current backlog will be executed efficiently while he also focuses on streamlining operations and identifying strategic growth opportunities to drive higher profits, ultimately enhancing shareholder value.”Mr. Morris added, “The renewable space continues to experience expansive growth and economic support, specifically in solar power and storage. Sunworks is well-positioned with its backlog, cash balance, and rapidly expanding target market as homeowners, residential developers, commercial businesses, and municipalities consider solutions to maximize energy savings while leveraging enhanced renewable incentives. I am excited to join the Sunworks Executive Team and Board of Directors and believe we will reposition the company to capitilize on strong industry tailwinds while driving profitable, long-term growth.”About Sunworks, Inc.Sunworks, Inc. (NASDAQ:SUNW) is a premier provider of high-performance solar power systems. Sunworks is committed to quality business practices that exceed industry standards and uphold its ideals of ethics and safety. Sunworks continues to grow its presence, expanding nationally with regional and local offices. The Company strives to consistently deliver high quality, performance-oriented solutions for customers in a wide range of industries including agricultural, commercial and industrial, state and federal, public works, and residential. Sunworks’ diverse, seasoned workforce includes veterans who bring a sense of pride, discipline, and professionalism to their interaction with customers. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power. For more information, visit www.sunworksusa.comInvestor Relations Contact:Rob Fink FNK IR 646.809.4048 rob@fnkir.comA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e2f9f4ec-57b0-4d1e-8f38-6c217bbed541
- Benzinga
Return On Capital Employed Overview: Sunworks
During Q3, Sunworks's (NASDAQ:SUNW) reported sales totaled $7.30 million. Despite a 102.25% in earnings, the company posted a loss of $2.69 million. In Q2, Sunworks brought in $9.67 million in sales but lost $1.33 million in earnings.What Is Return On Capital Employed? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and is a sign of higher earnings per share in the future. A low or negative ROCE suggests the opposite. In Q3, Sunworks posted an ROCE of -0.51%.Keep in mind, while ROCE is a good measure of a company's recent performance, it is not a highly reliable predictor of a company's earnings or sales in the near future.View more earnings on SUNWROCE is an important metric for the comparison of similar companies. A relatively high ROCE shows Sunworks is potentially operating at a higher level of efficiency than other companies in its industry. If the company is generating high profits with its current level of capital, some of that money can be reinvested in more capital which will generally lead to higher returns and earnings per share growth.In Sunworks's case, the ROCE ratio shows the amount of assets may not be helping the company achieve higher returns. Investors may take this into account before making any long-term financial decisions.Q3 Earnings Insight Sunworks reported Q3 earnings per share at $-0.17/share, which did not meet analyst predictions of $-0.05/share.See more from Benzinga * Click here for options trades from Benzinga * 12 Industrials Stocks Moving In Thursday's Pre-Market Session * 9 Industrials Stocks Moving In Wednesday's Intraday Session(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- GlobeNewswire
Sunworks Pays Off Debt and Strengthens Balance Sheet
Company Completes ATM Offering – Raises $20 Million in Cash; Pays off $2.7 Million CrowdOut Capital Debt ROSEVILLE, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Sunworks, Inc. (Nasdaq: SUNW), a provider of solar power solutions for agriculture, commercial and industrial (ACI), public works and residential markets, today announced the Company has sold approximately 3.8 million shares of common stock raising approximately $20 million in gross proceeds through “at the market” offerings under its prospectus supplement filed on November 25, 2020. The Company used a portion of the proceeds from the sales of its common stock to fully repay the outstanding balance of approximately $2.7 million under its Loan Agreement with CrowdOut Capital, Inc.Chuck Cargile, Sunworks Chairman of the Board said, “We have successfully bolstered our balance sheet, eliminated costly debt, and strengthened our working capital position, better positioning us to navigate the COVID-related challenges impacting our operations, our industry, and the economy as a whole. Additionally, we are actively recruiting a permanent Chief Executive Officer (CEO) to lead the next phase of Sunworks’ evolution and fulfillment of backlog. The Board and I are encouraged by the qualified candidates and expect to have a permanent CEO in place in the first quarter of 2021.”About Sunworks, Inc.Sunworks, Inc. (NASDAQ:SUNW) is a premier provider of high performance solar power systems. Sunworks is committed to quality business practices that exceed industry standards and uphold its ideals of ethics and safety. Sunworks continues to grow its presence, expanding nationally with regional and local offices. The Company strives to consistently deliver high quality, performance-oriented solutions for customers in a wide range of industries including agricultural, commercial and industrial, state and federal, public works, and residential. Sunworks’ diverse, seasoned workforce includes veterans who bring a sense of pride, discipline, and professionalism to their interaction with customers. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power. For more information, visit www.sunworksusa.com.Safe Harbor StatementMatters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," “will,” "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the Company’s future sales, revenue, gross profit, gross margin, operating expenses, operating income, net income, cash balance and cash from operating activities. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive, regulatory, environmental and other factors affecting the Company and its operations, markets and products; the impact of COVID-19 and the related federal, state and local restrictions on the Company’s operations and workforce, the impact of COVID-19 and such restrictions on our customers, and the impact of COVID-19 on the Company’s supply chain and availability of shipping and distribution; the prospects for sales, lower revenues, failure to earn profit, higher costs than expected, potential operating losses, ownership dilution, inability to repay debt, and the inability to complete projects within anticipated timeframes and costs; the impact of tariffs imposed by governmental bodies; the impact of national and local economies generally; the Company’s ability to access governmental assisted financing; and other factors detailed in reports filed by the Company. You should also review the risks described in “Risk Factors” in Part I, Item 1A of Sunworks, Inc.’s Annual Report on Form 10-K and in the other reports and documents Sunworks files with the Securities and Exchange Commission from time to time.Any forward-looking statement made by us in this press release is based only on information currently available to us and reflects only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Investor Relations Contact:Rob Fink FNK IR 646.809.4048 rob@fnkir.com
