SunPower posts Q1 loss on lower sales, higher spending

Sunpower

12/05/2026 13:09

Overview

US residential solar provider's preliminary Q1 revenue fell and missed internal guidance

Company posted a non-GAAP operating loss due to lower revenue and higher spending for Q3 growth

Bookings hit a record high, supported by acquisitions, expected to boost future revenue

Outlook

Company expects Q2'26 revenue of $75 mln and operating loss of about $3 mln

SunPower forecasts Q3'26 revenue will climb to $96 mln, reaching cashflow breakeven

Company expects cost reductions to lower ongoing operating expense by $9.9 mln per quarter

Result Drivers

REVENUE SLOWDOWN - Company said Q1'26 revenue was down due to a slowdown, though the decline was milder than the market overall

HIGHER OPERATING EXPENSES - Operating loss increased due to $9.9 mln in added spending ahead of expected Q3'26 growth

RECORD BOOKINGS - Bookings rose to a record 4,446 jobs, driven by acquisitions, expected to support future revenue

Company press release: ID:nGNX4z1y7M

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$72.79 mln
$77.50 mln (2 Analysts)
Q1 Gross Margin
62.00%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for SunPower Inc is $5.70, about 400% above its May 11 closing price of $1.14

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 6 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)