Why Gordon Johnson Says SunPower Is A 'Perpetually Loss-Making' Company [Yahoo! Finance News]
SunPower Corporation (SPWR)
Last sunpower corporation earnings: 2/12 04:05 pm
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Source: Yahoo! Finance News
Solar solutions and services provider SunPower Corporation SPWR fourth-quarter results The Sunpower Analyst Gordon Johnson II The SunPower Thesis SunPower's earnings presentation showed that the company's business unit generated $122.4 million of cash in the fourth quarter, but according to "traditional accounting definitions," this is not accurate, Johnson said in a Tuesday note. See his track record here Specifically, the company boosted its BU cash by $131.5 million by including several non-core transactions, the analyst said: The companysaid its 2019 adjusted EBITDA was $98 million, but similarly, this doesn't tell the whole story, Johnson said. SunPower's EBITDA includes "a bunch" of one-time asset sales in EBITDA, which he said is a "HUGE no-no," as investors put a multiple on a company's EBITDA. Excluding one-time items places SunPower's EBITDA closer to $41 million, the analyst said. Finally, bulls are counting on the company splitting itself up so the "New SPWR" will have
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SPWR
News
- Enphase Energy and SunPower: Solar stocks sliding [Yahoo! Finance]Yahoo! Finance
- It's a cloudy day for SunPower. [Verge, The]Verge, The
- SunPower to Cut Almost One-Third of Workforce [BNN Bloomberg (Canada)]BNN Bloomberg
- SunPower to cut jobs, shut business segments in restructuring plan [Seeking Alpha]Seeking Alpha
- Solar company SunPower to reduce workforce, shut business segments [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
SPWR
Earnings
- 2/15/24 - Miss
SPWR
Sec Filings
- 4/24/24 - Form 8-K
- 4/23/24 - Form 8-K
- 3/27/24 - Form 144
- SPWR's page on the SEC website