SunPower Reports Q2 Revenue Decline Amid Operational Delays
SunPower Inc. (NASDAQ:SPWR) reported a decline in second-quarter revenue to $56 million, down from $72.8 million in the previous quarter due to installation delays affecting over 1,105 residential solar projects within its SunPower Direct division. Management attributed these issues to operational execution rather than weak demand and outlined cost-cutting measures totaling approximately $13 million per quarter through workforce reductions and restructuring efforts. Despite lower revenue, operating expenses were reduced by about $19.7 million compared to the first quarter of 2026, with a non-GAAP operating loss at $12.5 million versus $12.9 million in Q1. CEO T.J. Rodgers announced leadership changes within SunPower Direct and expressed confidence that resolving these issues will lead to improved performance. SunPower anticipates stronger third-quarter revenue exceeding $75 million, with a significant reduction in operating losses expected by up to 90%. Investors are closely watching the company's ability to clear its backlog of delayed projects and demonstrate operational improvements as key indicators for future success.
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