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Feb. 17, 2021, 4:43 p.m. EST

SunPower Corp. stock falls 6% after Q4 sales miss

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By Claudia Assis

SPWR

Shares of SunPower Corp. /zigman2/quotes/200243424/composite SPWR -1.39% fell more than 6% in the extended session Wednesday after the solar-energy company reported fourth-quarter sales that were below Wall Street expectations. SunPower earned $413 million, or $2.08 a share, in the quarter, compared with 5 cents a share in the year-ago period. Sales fell to $342 million, from $402 million a year ago. "Entering 2021, we are continuing to focus our efforts and investment on those markets that offer us strong growth potential - storage and energy services," Chief Executive Tom Werner said in a statement. Analysts polled by FactSet had expected SunPower to report GAAP earnings of 8 cents a share on sales of $354 million in the quarter. The stock ended the regular trading day down 6%.

/zigman2/quotes/200243424/composite
US : U.S.: Nasdaq
$ 29.16
-0.41 -1.39%
Volume: 1.94M
Oct. 20, 2021 12:16p
P/E Ratio
12.24
Dividend Yield
N/A
Market Cap
$5.11 billion
Rev. per Employee
$511,286
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