Solar company Sunpower flags issues with financial reporting [Reuters]
SunPower Corporation (SPWR)
Last sunpower corporation earnings: 2/12 04:05 pm
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Source: Reuters
April 23 (Reuters) - SunPower (SPWR.O) New Tab , opens new tab has identified misstatements in its results for fiscal year 2022, the U.S. solar power storage and energy service provider said in a regulatory filing on Tuesday. It expects a $15 million to $25 million decrease in income from continuing operations before income taxes and some other adjustments for the year ended Jan. 1, 2023. The misstatements relate to capitalization of certain deferred costs and wrongly classified sales commissions as cost of revenue, among other things. The company had raised doubts over its ability to continue as a going concern in December, saying a breach of a key credit agreement could prompt lenders to recall certain loans. The breach was due to a delay in filing quarterly results stemming from inventory-related issues. SunPower said on Tuesday it had not completed the review of its fiscal 2022 results and could not assure that the evaluation will not throw up more errors. The Reute
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News
- SunPower Stock Is Down 55% This Year. Is It a Buy? [Yahoo! Finance]Yahoo! Finance
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- 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
SPWR
Earnings
- 2/15/24 - Miss
SPWR
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 4/24/24 - Form 8-K
- SPWR's page on the SEC website