Maxeon widens loss in Q3 2020
- Maxeon Solar Technologies, Ltd. introduced its financial outcomes for the third quarter ended September 27, 2020.
Module shipments were 531 MW compared to 631 MW in Q3 2019. Revenues were avoiding $309 million in Q3 2019 to $206 million in the reporting quarter, yet boosted from $165 million in Q2 2020. Bottom line was $67 million (Q3 2019: $35 million; Q2 2020: 46 million).
Maxeon belonged to Sunpower Inc. Spin-off has been completed in August 2020. For the fourth quarter of 2020, the business expects module shipments to be in a variety of 550 MW to 690 MW, driven by strong roof need in core markets including United States and also Europe. Income is expected within a range of $210 million to $260 million and also gross profit to be within a variety of $1 million to $7 million. The business intends capital investments of $20 million to $35 million, routed generally to upgrading Maxeon's manufacturing facilities.
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