SunPower's Earnings Could Trend Lower As It Builds Out Projects For H2

SunPower, the second largest U.S. solar equipment manufacturer, is expected to publish its Q2 earnings in the coming weeks. We expect the firm’s revenues to trend lower on a year-over-year basis, amid weaker revenue recognition in its power plant business as it builds out assets for sale during the second half of this year under its Holdco strategy. On a Non-GAAP basis, the company has guided for revenue of $310 million to $360 million for the quarter with a gross margin of 12% to 14% and EBIT...