Maxeon Solar Technologies raised shipments and revenue in the third Quarter 2021

Maxeon Solar Technologies, Ltd. announced its financial results for the third quarter ended October 3, 2021. Shipments were 566 MW compared to 434 MW in Q2 2021 and 531 MW in Q3 2020. Revenue rose slightly from $206 million to $220 million in the reporting period, and significantly quarter over quarter from $175 million in Q2 2021. Net loss improved year over year from $67 million in Q3 2020 to 65 million in Q3 2021. In the fourth quarter, the company anticipates shipments within a range of 540 to 570 MW and revenue to be between $215 million to $235 million.
Maxeon's Chief Executive Officer Jeff Waters noted, that the company re-opened its Malaysia facility after a 15 day shutdown during the quarter due to a COVID-19 outbreak, and that 99 percent of those employees are fully vaccinated. »We are also supporting vaccinations for our employees in the Philippines and Mexico where national rates are still far behind Europe and the United States.« The company stays »on schedule for our long term transformation initiatives including the ramps of Maxeon 6 and North America Performance lines.«

Related News