SunPower Corporation delivers solar solutions worldwide. It operates through Residential, Light Commercial; Commercial and Industrial Solutions; and Others segments. The company provides solar energy solutions, including sales to its third-party dealer network and resellers, storage solutions, cash and loan sales, and long-term leases directly to end customers; and sells turn-key engineering, procurement, and construction services, as well as sells energy under power purchase agreements. It also offers commercial roof, carport, and ground mounted systems; and post-installation operations and maintenance services. In addition, the company provides residential leasing program services, as well as sells inverters manufactured by third parties. The company also serves investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners. The company was incorporated in 1985 and is headquartered in San Jose, California. SunPower Corporation is a subsidiary of Total Energies Nouvelles Activités USA.
IPO Year:
Exchange: NASDAQ
Website: us.sunpower.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/19/2024 | Neutral → Underperform | Mizuho | |
| 5/15/2024 | $2.00 | Peer Perform → Underperform | Wolfe Research |
| 4/23/2024 | $6.00 | Outperform → In-line | Evercore ISI |
| 2/16/2024 | $1.00 | Neutral → Sell | Guggenheim |
| 1/11/2024 | $5.50 → $4.00 | Positive → Neutral | Susquehanna |
| 1/8/2024 | $6.00 → $4.00 | Equal Weight → Underweight | Wells Fargo |
| 1/4/2024 | Outperform → Mkt Perform | Raymond James | |
| 12/18/2023 | $5.00 → $4.00 | Neutral → Sell | Goldman |
| 12/15/2023 | $5.50 | Hold | Jefferies |
| 11/21/2023 | $5.00 | Neutral | Mizuho |
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Mizuho downgraded SunPower from Neutral to Underperform
Wolfe Research downgraded SunPower from Peer Perform to Underperform and set a new price target of $2.00
Evercore ISI downgraded SunPower from Outperform to In-line and set a new price target of $6.00
Guggenheim downgraded SunPower from Neutral to Sell and set a new price target of $1.00
Susquehanna downgraded SunPower from Positive to Neutral and set a new price target of $4.00 from $5.50 previously
Wells Fargo downgraded SunPower from Equal Weight to Underweight and set a new price target of $4.00 from $6.00 previously
Raymond James downgraded SunPower from Outperform to Mkt Perform
Goldman downgraded SunPower from Neutral to Sell and set a new price target of $4.00 from $5.00 previously
Jefferies initiated coverage of SunPower with a rating of Hold and set a new price target of $5.50
Mizuho initiated coverage of SunPower with a rating of Neutral and set a new price target of $5.00
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SolarEdge Technologies, Inc. (NASDAQ:SEDG), a global leader in smart energy technology, today announced the appointment of Yoram Tietz and Gilad Almogy to its Board of Directors, effective January 6, 2025. Mr. Tietz has been appointed as chair the Board's Audit Committee, while Mr. Almogy joined the Board's Technology Committee. Yoram Tietz is a Senior Advisor to General Atlantic, a leading global growth equity investment fund where he provides strategic support and counsel for General Atlantic's investing platform in Israel. Prior to joining General Atlantic, Mr. Tietz spent 27 years at Ernst & Young (EY), including more than 15 years as Managing Partner of EY Israel. Prior to his role a
Gregg Lowe to Depart as President & CEO and as a Member of the Board of Directors Current Chairman Thomas Werner Appointed Executive Chairman Search Process Underway to Identify Permanent CEO Wolfspeed (NYSE:WOLF) today announced that its Board of Directors (the "Board") has determined and agreed with Gregg Lowe that he will depart this month from his roles as Wolfspeed's President and Chief Executive Officer and as a member of the Board. The Board is conducting a search to identify a permanent CEO with the support of a leading global executive search firm. The Board has appointed Thomas Werner, Chairman of the Board, as Executive Chairman while the Board works to identify Wolfs
NEW YORK, Aug. 6, 2024 /PRNewswire/ -- SolarWinds Corp. (NYSE:SWI) will replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, August 9. SunPower has filed for Chapter 11 bankruptcy and is no longer eligible for continued inclusion in the S&P SmallCap 600. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector August 9, 2024 S&P SmallCap 600 Addition SolarWinds SWI Information Technology August 9, 2024 S&P SmallCap 600 Deletion SunPower SPWR Industrials For more information about S&P Dow Jones Indices, pleas
Tony Garzolini rejoins the company in a newly created role as SunPower deepens focus on profitability and Dealer experience RICHMOND, Calif., March 14, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) a leading residential solar technology and energy services provider, today announced the appointment of residential solar and home energy veteran, Tony Garzolini, as Executive Vice President and Chief Revenue Officer (CRO). In this role, Tony will oversee sales, including the Direct, Dealer and New Homes channels, along with pricing and demand generation. "SunPower made great s
Board establishes Office of the Chairman to lead business operations as Peter Faricy departs Board is conducting a comprehensive CEO search RICHMOND, Calif., Feb. 27, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that Chief Executive Officer (CEO) Peter Faricy has departed the Company, effective February 26, 2024. The Board is conducting a comprehensive search process to identify a permanent CEO. Until a successor is named, the Board has established an Office of the Chairman, led by Tom Werner, Executive Chairman of the Board and newly appointed Principal Executive Offic
SCOTTSDALE, Ariz., June 14, 2023 (GLOBE NEWSWIRE) -- Meritage Homes (NYSE:MTH), the fifth-largest public homebuilder in the U.S., today announced the appointment of Dennis V. Arriola as an independent director to its Board of Directors, as part of its board refreshment process. His appointment brings the Board of Directors to a total of 12. The Board plans to consider Mr. Arriola for appointment to one or more board committees over the course of the next several regularly scheduled board meetings. Mr. Arriola currently serves as an Operating Partner at Sandbrook Capital, a private equity firm focused on transforming energy infrastructure investments. Previously, he was the chief executi
RICHMOND, Calif., May 18, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services company, today announced that Audrey Zibelman has been appointed to its board of directors. Zibelman brings extensive experience driving innovation and leading the transition to clean energy at large organizations in the private and public sectors as a board member, CEO and government leader. "Audrey is one of the most accomplished executives advancing the energy industry transformation, and I am honored to welcome her to our board," said Peter Faricy, Su
RICHMOND, Calif., May 15, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services company, today announced that Elizabeth "Beth" Eby has been appointed as its Chief Financial Officer (CFO), effective May 30, 2023. Eby is a seasoned executive who brings more than 30 years of experience in financial strategy, execution and governance at Fortune 50 and publicly traded technology companies. As CFO, Eby will play a critical role in developing and implementing the company's strategic growth plan and in leading SunPower's finance organization and activities.
Arkansas dealer Stitt Solar and Illinois-based Sun N Us receive designation for customer service excellence, superior results, dedication to SunPower brand and mission RICHMOND, Calif., March 29, 2023 /PRNewswire/ -- SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, today announced it designated Stitt Solar and Sun N Us Solar LLC as Master Dealers. The Master Dealer program is designed to deliver customers the highest level of expertise and service through leading local and independent solar companies. Participation in SunPower's Mas
Roku CFO brings extensive business strategy and development experience at high growth companies across technology, retail, and financial services RICHMOND, Calif., March 14, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced the appointment of Steve Louden to its Board of Directors. Louden brings more than 30 years of strategy and financial experience at high-growth consumer businesses across technology, media, entertainment, retail, and financial services. "Steve has an impressive track record at organiz
Added 16,000 customers in Q4, 75,900 new customers in FY 2023Reported Q4 revenue of $357 million; FY 2023 revenue of $1.7 billion Reported Q4 GAAP Net Loss of ($124) million and Adjusted EBITDA of ($68) million; FY 2023 GAAP Net Loss of ($247) million and Adjusted EBITDA of ($84) million Announced $175 million of additional capital and $25 million of additional revolving debt capacityRICHMOND, Calif., Feb. 15, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced financial results for the fourth quarter and full year ending December 31, 2023.
Added 20,400 customers in Q2, entering Q3 with backlog of 20,000 retrofit customers and 39,000 New Homes customers Increased GAAP Revenue 11% year-over-year Reported Q2 GAAP Net Loss of ($30) million, Adjusted EBITDA of ($3) million Previously announced updated Guidance to reflect current market conditions SunPower Financial™ to become ADT Solar's exclusive lease and PPA providerRICHMOND, Calif., Aug. 1, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading residential solar technology and energy services provider, today announced financial results for the second quarter, ending July 2, 2023.
Preliminary second quarter GAAP Net Loss of ($30) million, Adjusted EBITDA of approximately ($3) millionPreliminary second quarter customer growth of 20,400 new customersPreliminary second quarter Revenue of $464 million, 11% higher year-over-yearReduced 2023 outlook for customer growth and Adjusted EBITDARICHMOND, Calif., July 26, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today provided preliminary unaudited financial results for the second quarter ending July 2, 2023. "Demand in the second quarter has weakened
Added 21,000 customers in Q1, 27% growth year-over-year; enters Q2 with backlog of 23,000 retrofit customers Increased Revenue 26% and 32% year-over-year on a GAAP and non-GAAP basis, respectivelyReported Q1 GAAP Net Loss of $51M, Adjusted EBITDA of $1MInvested in Wolf River Energy, accelerating coverage in MidwestSecured new capital to fund $1B of solar loansRICHMOND, Calif., May 3, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced financial results for the first quarter, ending April 2, 2023. "We exite
Achieved record Q4: added nearly 24,000 customers; Revenue of $497 million, 43% growth YoY Reported Q4 GAAP Net Income of $8 million and Adjusted EBITDA of $36 million Added 83,000 customers and drove Revenue of $1.7 billion in 2022, 53% growth YoY Reported 2022 GAAP Net Income of $56 million and Adjusted EBITDA of $95 million Entered 2023 with strong balance sheet: $48 million Net Recourse Debt, repaid $425 million Convertible Debt in January Secured new panel supply agreements to meet rising demand RICHMOND, Calif., Feb. 15, 2023 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced financial results for the fourth quarter, e
Event to be webcast online at: http://investors.sunpower.com/events.cfm RICHMOND, Calif., Dec. 14, 2022 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) will discuss its fourth quarter 2022 financial results on Wednesday, February 15 at 5 p.m. Eastern Time. The conference call can be accessed live by registering at https://edge.media-server.com/mmc/p/kqr37kfz. The results are scheduled to be released at 4:45 p.m. ET. The live audio webcast and supplemental financial information will be available on SunPower's investor website at http://investors.sunpower.com/events.cfm. About SunP
Added a record 23,000 customers in the third quarter, a 63% increase YoYAccelerated revenue growth 67% YoY Reported Net Income attributable to stockholders of $139M, Adjusted EBITDA of $33M which more than doubled Q2 resultsAnnounced collaboration with General Motors to develop home energy system; General Motors named SunPower as exclusive solar providerRICHMOND, Calif., Nov. 8, 2022 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced financial results for the third quarter, ending October 2, 2022. "In the thir
Event to be webcast online at: http://investors.sunpower.com/events.cfm RICHMOND, Calif., Sept. 13, 2022 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) will discuss its third quarter 2022 financial results on Tuesday, November 8 at 8:30 a.m. Eastern Time. The conference call can be accessed live by registering at https://register.vevent.com/register/BI45f40baae7fb4eb19531e810dd5b7edb. The results are scheduled to be released at 8:05 a.m. ET. The live audio webcast and supplemental financial information will be available on SunPower's investor website at http://investors.sunpower
Added a record 19,700 customers in the second quarter, a 51% increase YoY Accelerated revenue growth to 63% YoY Achieved backlog of 53,000 retrofit and new homes customers Delivered strong gross margin: 20% GAAP, 21% non-GAAPAnnounced strategic relationship with IKEA U.S. to reach new customers and simplify the solar buying experience SAN JOSE, Calif., Aug. 2, 2022 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, today announced financial results for the second quarter, ending July 3, 2022. "There is a ubiquitous need for r
Event to be webcast online at: http://investors.sunpower.com/events.cfm SAN JOSE, Calif., July 11, 2022 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR) will discuss its second quarter 2022 financial results on Tuesday, August 2 at 8:30 a.m. Eastern Time. The conference call can be accessed live by registering at https://register.vevent.com/register/BI8045a492c8dd47d6be8faf25537fcfbd. The results are scheduled to be released at 8:05 a.m. ET. The live audio webcast and supplemental financial information will be available on SunPower's investor website at http://investors.sunpower.c
OREM, Utah, May 02, 2025 (GLOBE NEWSWIRE) -- SunPower (aka Complete Solaria, Inc.) ("SunPower" or the "Company") (NASDAQ:SPWR), today announced that it received an expected deficiency notification letter from the Listing Qualifications staff of The Nasdaq Stock Market LLC ("Nasdaq") on April 28, 2025 (the "Notice"). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule") because it did not timely file its Annual Report on Form 10-K for the annual period ended December 29, 2024 (the "2024 Form 10-K"). The Listing Rules require Nasdaq-listed companies to timely file all required periodic reports with the SEC. In accordance with Nas
OREM, Utah, April 30, 2025 (GLOBE NEWSWIRE) -- SunPower, formerly d/b/a Complete Solaria, Inc. ("SunPower" or the "Company") (NASDAQ:SPWR), a solar technology, services, and installation company, will present its 2024 and Q1'25 results via webcast at 1:00pm ET on Wednesday, April 30. Interested parties may access the webcast by registering here or by visiting the Events page within the IR section of the company website: https://investors.sunpower.com/news-events/events. Please see our SunPower rebranding announcement on the back page of the April 29 print version of the Wall Street Journal or on the mobile app for the WSJ print version, where it will reside for the next week. SunPower ch
OREM, Utah, April 21, 2025 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. d/b/a SunPower ("SunPower" or the "Company") (NASDAQ:CSLR), a leading solar technology, services, and installation company, today announced it is rebranding as SunPower. The company's ticker symbol will change from "CSLR" and "CSLRW" to "SPWR" and "SPWRW", respectively, effective April 22, 2025. SunPower was founded in April 1985, came public in 2005 and broke the $1 billion revenue barrier in 2008. Since its inception 40 years ago, the iconic company has exemplified the spirit of innovation in the solar industry, developing pioneering technology, making essential contributions to research and development, and setting t
SolarEdge Technologies, Inc. (NASDAQ:SEDG), a global leader in smart energy technology, today announced the appointment of Yoram Tietz and Gilad Almogy to its Board of Directors, effective January 6, 2025. Mr. Tietz has been appointed as chair the Board's Audit Committee, while Mr. Almogy joined the Board's Technology Committee. Yoram Tietz is a Senior Advisor to General Atlantic, a leading global growth equity investment fund where he provides strategic support and counsel for General Atlantic's investing platform in Israel. Prior to joining General Atlantic, Mr. Tietz spent 27 years at Ernst & Young (EY), including more than 15 years as Managing Partner of EY Israel. Prior to his role a
Gregg Lowe to Depart as President & CEO and as a Member of the Board of Directors Current Chairman Thomas Werner Appointed Executive Chairman Search Process Underway to Identify Permanent CEO Wolfspeed (NYSE:WOLF) today announced that its Board of Directors (the "Board") has determined and agreed with Gregg Lowe that he will depart this month from his roles as Wolfspeed's President and Chief Executive Officer and as a member of the Board. The Board is conducting a search to identify a permanent CEO with the support of a leading global executive search firm. The Board has appointed Thomas Werner, Chairman of the Board, as Executive Chairman while the Board works to identify Wolfs
RICHMOND, Calif., Aug. 12, 2024 /PRNewswire/ -- SunPower Corp. (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced that the Company received a notice from the Nasdaq Stock Market LLC ("Nasdaq") that it has determined to delist the Company's common stock on Nasdaq. The delisting is a result of the Company's failure to demonstrate compliance with Nasdaq Listing Rules 5101, 5110(b), and IM-5101-1 as a result of the Company and certain of its direct and indirect subsidiaries filing voluntary petitions for relief under Chapter 11 of Title 11 of the United States Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for
OVERLAND PARK, KS / ACCESSWIRE / August 8, 2024 / Tortoise Capital today announced that SunPower Corp (NASDAQ:SPWR) will be removed from the Tortoise Decarbonization Infrastructure IndexSM (DCRBN) as a result of its announced bankruptcy and asset purchase agreement with Complete Solaria, Inc. SPWR will be removed from the index when the market opens on Aug. 9, 2024.Special rebalancing is not required for DCRBN. SPWR will be removed, and its weight distributed pro rata to remaining Index constituents.About Tortoise Index Solutions (TIS)TIS provides research-driven indices that can be used as a realistic basis for exchange-traded products and thought leadership in the universe of essential ass
NEW YORK, Aug. 6, 2024 /PRNewswire/ -- SolarWinds Corp. (NYSE:SWI) will replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, August 9. SunPower has filed for Chapter 11 bankruptcy and is no longer eligible for continued inclusion in the S&P SmallCap 600. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector August 9, 2024 S&P SmallCap 600 Addition SolarWinds SWI Information Technology August 9, 2024 S&P SmallCap 600 Deletion SunPower SPWR Industrials For more information about S&P Dow Jones Indices, pleas
LEHI, Utah, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Complete Solaria, Inc. ("Complete Solaria" or the "Company") (NASDAQ:CSLR), a leading solar technology, services, and installation company, today announced that it had received a coveted "Stalking Horse" position in the SunPower (NASDAQ:SPWR) Chapter 11 bankruptcy (https://newsroom.sunpower.com/2024-08-05-SunPower-Announces-Stalking-Horse-Asset-Purchase-Agreement-with-Complete-Solaria-to-Sell-Blue-Raven-Solar,-New-Homes,-and-its-Non-Installing-Dealer-Network). As the stalking horse bidder, Complete Solaria enjoys some benefits in the Chapter 11 legal process, including setting the first bid, and, more importantly, the right to negotiate the Ass
Files voluntary Chapter 11 petitions to effectuate the proposed transaction Intends to operate Blue Raven Solar and New Homes through the Chapter 11 process Pursues value-maximizing sale transactions for remaining assets RICHMOND, Calif., Aug. 5, 2024 /PRNewswire/ -- SunPower Corp. (NASDAQ:SPWR), (the "Company" or "SunPower"), a leading residential solar technology and energy services provider, today announced it has entered into an asset purchase agreement (the "APA") with Complete Solaria, Inc. (NASDAQ:CSLR) ("Complete Solaria") to serve as the Stalking Horse Buyer for the assets associated with SunPower's Blue Raven Solar business, New Homes business, and non-installing Dealer network (th