SunPower Joins the Russell 3000 & Russell Microcap Indices
OREM, Utah, June 30, 2025 (GLOBE NEWSWIRE) -- SunPower (aka Complete Solaria, Inc.) ("SunPower" or the "Company") (NASDAQ:SPWR), a leading U.S. solar technology, services, and installation company, announced that effective today, Monday June 30th, 2025, SunPower has been added to the Russell 3000 and Russell Microcap Indices.
The Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the London Stock Exchange, approximately $8.5 trillion is benchmarked to Russell indices and roughly $2 trillion tracks them passively.
SunPower chairman and CEO T.J. Rodgers commented, "Despite the factually erroneous barrage of negative data dumped on our stock symbol SPWR on a daily basis due to careless reporting by companies like Market Watch – which carries mostly obsolete stories created by bots on the demise of (the old) SunPower, which no longer exists as a company, our SPWR has been asked to join the Russell 3000 and Microcap Indices. Our inclusion in these Indices shows that the new SPWR is expected to benefit from the famous SunPower brand.
Rodgers continued, "Furthermore, in Q1'25, SPWR achieved an operating profit for the first time in four years, just six months after the current management team took control. And, we will announce our second consecutive quarter of profitability for Q2'25 on July 22 at our quarterly shareholder earnings call.
Rodgers concluded, "As stated in my recent WSJ Op-ed and our last press release (links here and here), while the U.S. residential solar industry is facing some structural uncertainties, that remains a huge opportunity, and I view the elimination of the ITC to be very positive versus competitors because our newly transformed SPWR is ready to grow profitably in a solar market free of frequent destructive government meddling. I look forward to being able to share SunPower's story with the broader investor audience available through the Russell indices."
About SunPower
SunPower (NASDAQ:SPWR) is a leading residential solar services provider in North America. The Company's digital platform and installation services support energy needs for customers wishing to make the transition to a more energy-efficient lifestyle. For more information visit www.sunpower.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "will," "goal," "prioritize," "plan," "target," "expect," "focus," "forecast," "look forward," "opportunity," "believe," "estimate," "continue," "anticipate," and "pursue" or the negative of these terms or similar expressions. Forward-looking statements in this press release include, without limitation, our future quarterly revenue projections, our expectations regarding our future fiscal financial performance, including with respect to our future quarterly and fiscal combined revenues and profit before tax loss, expectations and plans relating to further headcount reduction, cost control efforts, and our expectations with respect to when we achieve breakeven operating income and positive operating income, including our forecast to be operating income breakeven. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, our expectations relating to the ITC phase out and its impacts on our business, our ability to implement further headcount reductions and cost controls, our ability to integrate and operate the combined business with the SunPower assets, our ability to achieve the anticipated benefits of the SunPower acquisition, global market conditions, changes to domestic or foreign tariffs or tax incentives, any adjustments, changes or revisions to our financial results arising from our financial closing procedures, the completion of our audit and financial statements for Q2'25 and fiscal 2025, and other risks and uncertainties applicable to our business. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, readers should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of our annual report on Form 10-K filed with the SEC on April 30, 2025, our quarterly reports on Form 10-Q filed with the SEC and other documents that we have filed with, or will file with, the SEC. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements in this press release speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and SunPower assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Company Contacts:
Sioban Hickie
VP, Investor Relations
[email protected]
(801) 477-5847
Source: SunPower
