SunPower announces restructuring aimed at doubling down on residential market [CNBC]
SunPower Corporation (SPWR)
Last sunpower corporation earnings: 2/12 04:05 pm
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Source: CNBC
The company is acquiring homes solar company Blue Raven, and announced plans to sell its commercial and industrial business. “We’re happy to have the clarity for investors on this singularly focused strategy now, focusing on residential moving forward,” said SunPower CEO Peter Faricy. Shares of the company are down 10% for 2021, but have rallied 70% over the last year. SunPower said Tuesday that it’s restructuring its operations in a bid to focus exclusively on the fast-growing residential solar market. The company is acquiring residential solar provider Blue Raven, while also looking to sell its commercial and industrial business. SunPower CEO Peter Faricy said the acquisition was a natural fit for several reasons, including that Blue Raven’s customer-first approach aligns with SunPower’s motto. Additionally, more than 90% of Blue Raven’s customers are in 14 states that account for just 5% of SunPower’s sales. In other words, the acquisition expands SunPower’s footprint in places
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SPWR
Earnings
- 2/15/24 - Miss
SPWR
Sec Filings
- 3/27/24 - Form 144
- 3/26/24 - Form 144
- 3/25/24 - Form 144
- SPWR's page on the SEC website