SunPower targets profit in Q2, lifts 2019 EBITDA forecast

SunPower panels at Toyota Motor North America HQ in Texas. Source: SunPower (www.us.sunpower.com).

May 10 (Renewables Now) - SunPower Corp (NASDAQ:SPWR) estimates it could reach the breakeven point in the second quarter of 2019 and even raised its full-year guidance for adjusted EBITDA.

The solar panels manufacturer and installer said in a statement it continues to expect its financial performance to get better with each coming quarter throughout the year, with performance weighted towards July-December 2019.

Below you can see the company’s projections for the second quarter and full year 2019.

Figures in USD, unless otherwise noted Q2 2019 New 2019 Old 2019
GAAP revenue 370 million-410 million 1.8 billion-1.9 billion 1.8 billion-1.9 billion
GAAP gross margin 0%-3% -- --
GAAP net profit (loss) breakeven-20 million (120 million)-(100 million) --
Non-GAAP revenue 420 million-460 million 1.9 billion-2.0 billion 1.9 billion-2.0 billion
Non-GAAP gross margin 7%-10% -- --
Adjusted EBITDA (5 million)-15 million 90 million-110 million 80 million-110 million
Operational expenses -- Less than 270 million --

In April-June 2019, SunPower expects to deploy between 550 MW and 600 MW, whilst the full-year projected range is 1.9 GW-2.1 GW.

(USD 1.0 = EUR 0.891)

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