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MarketScreener Homepage  >  Equities  >  Nasdaq  >  SunPower Corporation    SPWR

SUNPOWER CORPORATION

(SPWR)
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SunPower : Expands SunPower Residential Installation across Six States

01/27/2021 | 08:41am EDT

SAN JOSE - As demand for solar increases across the country, SunPower (NASDAQ: SPWR), a leading solar technology and energy services provider, is announcing plans to significantly expand its SunPower Residential Installation (SPRI) program this year.

SunPower plans to launch SPRI presence in seven new markets across six states by the end of Q2 2021.

SPRI enables local companies and entrepreneurs to create or expand their solar energy companies without the complex and asset-heavy roles often associated with a traditional solar dealer business. With SPRI, sales organizations and small businesses can focus on marketing and selling solar while SunPower manages the entire process of rooftop installation, maintenance and repair, customer service, and warranty. This structure lowers the barrier-to-entry for those that want to enter the fast-growing renewable energy sector, provides new channels for SunPower to meet the demand of its rapidly growing customer base, and gives homeowners more options when buying solar.

Organizations that work with SPRI are part of SunPower's Non-Installing Dealer network. Non-Installing Dealers get access to the industry's most advanced platform to market, present, design and sell SunPower systems to homeowners. SunPower's turnkey software enables non-installing dealers to customize each project from panel placement to financing options.

'With SPRI we are increasing the size of the solar category by enabling entrepreneurs to create sales and marketing-focused solar businesses,' said Tony Garzolini, VP of Sales at SunPower. 'Our strong installing dealer network continues to be the foundation we rely on, but you no longer have to own construction equipment and manage a customer support team to be a part of this incredibly exciting industry.'

About SunPower

Headquartered in California'sSilicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools and utilities.

Forward-Looking Statements

This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our future business plans, including our planned expansion and anticipated entry into new markets, as well as anticipated hiring and the planned addition of new dealers to our network, and areas of focus. These forward-looking statements are based on our current assumptions, expectations, and beliefs and involve substantial risks and uncertainties that may cause results to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy and changes in our business strategy. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading 'Risk Factors.' Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

Contact:

Sarah Spitz

Tel: 832-444-7151

Email: Sarah.Spitz@SunPower.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SUNPOWER CORPORATION -0.49% 28.41 Delayed Quote.11.35%
TOTAL SE 1.11% 38.295 Real-time Quote.7.29%
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Financials (USD)
Sales 2021 1 511 M - -
Net income 2021 47,2 M - -
Net Debt 2021 216 M - -
P/E ratio 2021 121x
Yield 2021 -
Capitalization 4 918 M 4 918 M -
EV / Sales 2021 3,40x
EV / Sales 2022 2,60x
Nbr of Employees 2 200
Free-Float 43,7%
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Mean consensus HOLD
Number of Analysts 15
Average target price 29,92 $
Last Close Price 28,55 $
Spread / Highest target 71,6%
Spread / Average Target 4,81%
Spread / Lowest Target -54,5%
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Managers and Directors
NameTitle
Thomas H. Werner Chairman, President & Chief Executive Officer
Manavendra S. Sial Chief Financial Officer & Executive Vice President
Kenneth Lawrence Mahaffey Secretary, Executive VP & General Counsel
Douglas J. Richards Executive Vice President-Administration
Patrick H. Wood Independent Director
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