+
SunPower’s Q2 2023 net loss shrinks by 47% YoY
POWER & RENEWABLE ENERGY

SunPower’s Q2 2023 net loss shrinks by 47% YoY

SunPower Corporation narrowed its net loss to $33 million during the second quarter (Q2) of 2023, an improvement of 47% on a year-over-year (YoY) basis compared to losses of $62.3 million.

The company recorded a revenue of $463.85 million during Q2 2023, an increase of 11% compared to $417.77 million recorded during the corresponding period in 2022. The improvement in net loss and revenue increase can be attributed to the increased number of installations by the company during the period and higher bookings.

The total operating expense declined to $89.3 million, a 10% YoY decrease from $99.46 million. With 20,400 customers added in Q2, the company registered 3% YoY growth.

During the second quarter, SunPower released “SunVault,” an energy storage solution, for public availability. The offering includes a 19.5 kWh version and a configurable option of up to 39 kWh, providing a nearly 50% boost in energy storage capacity.

As a result, homeowners can now acquire a battery solution that offers enhanced savings and backup power capabilities. SunPower’s new homes business also achieved a record $108 million in bookings, representing 11% YoY growth in Q2, and the company completed its 100,000th New Homes Solar installation, which the company said is the highest among all solar companies.

SunPower Corporation narrowed its net loss to $33 million during the second quarter (Q2) of 2023, an improvement of 47% on a year-over-year (YoY) basis compared to losses of $62.3 million.The company recorded a revenue of $463.85 million during Q2 2023, an increase of 11% compared to $417.77 million recorded during the corresponding period in 2022. The improvement in net loss and revenue increase can be attributed to the increased number of installations by the company during the period and higher bookings.The total operating expense declined to $89.3 million, a 10% YoY decrease from $99.46 million. With 20,400 customers added in Q2, the company registered 3% YoY growth.During the second quarter, SunPower released “SunVault,” an energy storage solution, for public availability. The offering includes a 19.5 kWh version and a configurable option of up to 39 kWh, providing a nearly 50% boost in energy storage capacity.As a result, homeowners can now acquire a battery solution that offers enhanced savings and backup power capabilities. SunPower’s new homes business also achieved a record $108 million in bookings, representing 11% YoY growth in Q2, and the company completed its 100,000th New Homes Solar installation, which the company said is the highest among all solar companies.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code