Solar energy company Maxeon Solar Technologies Ltd (MAXN) reported Thursday a net loss attributable to the stockholders for the first quarter of $80.15 million or $1.59 per share, compared to net income of $20.27 million or $0.46 per share in the prior-year quarter.
Revenues for the quarter declined to $187.46 million from $318.33 million in the same quarter last year.
On average, five analysts polled by Thomson Reuters expected the company to report a loss of $1.80 per share on revenues of $229 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the second quarter, the company expects revenues between $160 million and $200 million on shipments in a range of 520 to 600 Mega Watts (MW). Analysts expect revenues of $193.90 million for the quarter.
For fiscal 2024, the company projects revenues between $640 million and $800 million. The Street is looking for revenues of $1.12 billion for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.