SunPower Q2 revenue drops on delayed job completions
SPWR•Outlook for Q3 2026
- SunPower expects Q3 2026 revenue to exceed $75 mln.
- Company forecasts Q3 2026 operating loss to narrow to less than $1 mln.
- Company plans further cost reductions of $5.9 mln in Q3 2026.
Preliminary Q2 results
- US residential solar firm's preliminary Q2 revenue fell sharply due to delayed job completions.
- Company implemented cost cuts and replaced Direct Division management after quality control issues.
- Preliminary results show Q2 non-GAAP operating loss narrowed slightly from the prior quarter.
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Miss | $56 mln | $76 mln (2 Analysts) |
| Q2 Gross Margin | 47.00% |
Drivers and analyst coverage
-
JOB DELAYS - Co said revenue decline was mainly due to about 1,105 delayed jobs in the Direct Division that could not be submitted for funding because of quality control issues.
-
COST CUTS - Co reduced quarterly fixed operating expenses by $7.1 mln through layoffs, a four-day workweek and other measures.
