Maxeon Solar falls after downbeat Q4 prelim revenue
09/04/2024 11:57
** Shares of Maxeon Solar Technologies MAXN.O fall 15.8%
to $2.30 premarket
** Q4 preliminary revenue at $229 mln vs analysts' estimate
of $232.6 mln - LSEG data
** Expects revenue of $186 mln in Q1 vs estimate of $224.5
mln
** Co to ramp down all Maxeon 6 capacity faster than
originally expected, resulting in higher than initially planned
restructuring costs in Q4 - CEO Bill Mulligan
** Upto last close, stock down ~62% YTD
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com;))