SPI - SPI Energy up 5% after revising 2022 guidance

• SPI Energy ( NASDAQ: SPI ) r evised 2022 revenue guidance of $174M to $176M ( vs. consensus $184.1M )
• The company expects revenue in the range of $250M-300M in 2023(vs. consensus $294.65M).
• SPI's American-made solar module manufacturing business, Solar4America, has reached 700MW in capacity and is expected to surpass 2.4GW by the end of 2023.
• Xiaofeng Peng, Chairman and CEO commented, "We are on a clear path to profitability in 2023 and expect this will be an exceptional year for SPI as we drive significant year-over-year revenue growth. Our 2022 guidance was impacted by foreign currency exchange and the delayed sale of our Oregon solar projects, which we now expect to complete in 2023. The strong growth in revenues and profitability forecasted in 2023 are being driven by a multitude of factors, including the rapid growth of newer business lines and the continued growth of more established subsidiaries."
• Stock surges about 4.5% after hours.

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