MAXN - Maxeon Solar Technologies GAAP EPS of -$0.03 beats by $0.07 revenue of $348.4M misses by $24.23M

2023-08-10 16:14:01 ET

• Maxeon Solar Technologies press release ( NASDAQ: MAXN ): Q2 GAAP EPS of -$0.03 beats by $0.07 .
• Revenue of $348.4M (+46.3% Y/Y) misses by $24.23M .
• Q3 Revenue of $280M - $320M, vs. consensus of $396.35M

• For fiscal year 2023, the Company is revising its annual guidance to reflect the near term softening of residential demand and the challenging market conditions which the Company expects to persist through the fourth quarter:

  – Revenue to be within a range of $1,250 million to 1,350 million, vs. consensus of $1.51B.

  – Adjusted EBITDA to be within a range of $80 million to $100 million.

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