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Maxeon Solar Technologies, Ltd. (MAXN) Reports Q3 Loss, Tops Revenue Estimates
MAXNMaxeon Solar Technologies(MAXN) ZACKS·2024-12-06 00:15

Group 1 - Maxeon Solar Technologies reported a quarterly loss of 0.47pershare,significantlybetterthantheZacksConsensusEstimateofalossof0.47 per share, significantly better than the Zacks Consensus Estimate of a loss of 11.50, and a substantial improvement from a loss of 221pershareayearago,indicatinganearningssurpriseof95.91221 per share a year ago, indicating an earnings surprise of 95.91% [1] - The company posted revenues of 88.56 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 25.72%, but down from 227.63millioninthesamequarterlastyear[2]−Overthelastfourquarters,MaxeonSolarTechnologieshassurpassedconsensusEPSestimatestwotimesandtoppedconsensusrevenueestimatesthreetimes[2]Group2−Thestockhasunderperformedsignificantly,losingabout98.9227.63 million in the same quarter last year [2] - Over the last four quarters, Maxeon Solar Technologies has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Group 2 - The stock has underperformed significantly, losing about 98.9% since the beginning of the year, while the S&P 500 has gained 27.6% [3] - The current consensus EPS estimate for the upcoming quarter is -3 on revenues of 95million,andforthecurrentfiscalyear,itis−95 million, and for the current fiscal year, it is -27 on revenues of $621.11 million [7] - The Zacks Industry Rank for Solar is currently in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]