Sunpower on course for expansion

U.S.-based photovoltaic systems and energy services provider Sunpower Corp. reported 21,000 new customers for the first quarter of the year, a 27 percent increase over the same period last year. In its leasing business, Sunpower achieved growth of 268 percent. To further expand its loan business, the company has commitments from various partners totaling $ 1 billion, with an agreement with New York-based investment firm KKR & Co. Inc (Kohlberg Kravis Roberts) for $ 550 million announced alongside the quarterly results.
For the time being, no growth is evident in the core figures for the quarter. Revenue of $ 440.9 million was well above the comparable quarter last year ($ 350.3 million), but well below Q4 2022 ($497.3 million). Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $ 0.6 million, down from $ 11.2 million in the year-ago period and $ 36.2 million in Q4 2022.
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