Maxeon (MAXN) Reports Q3 Revenues Beat

Maxeon (NASDAQ: MAXN) reported Q3 revenue for the quarter came in at $206.62 million versus the consensus estimate of $165.01 million.

For the fourth quarter of 2020, the Company anticipates the following results:

• Module shipments of 550 MW to 690 MW, driven by strong rooftop demand in core markets including US and Europe.
• Revenue within a range of $210 million to $260 million.
• Gross profit to be within a range of $1 million to $7 million. Out-of-market polysilicon cost is expected to be approximately $20 million.
• Adjusted EBITDA to be within a range of a loss of $15 million to a loss of $20 million. Adjusted EBITDA is expected to be impacted by approximately $20 million for the out-of-market polysilicon cost.
• Capital investment to be within a range of $20 million to $35 million, directed mainly to upgrading Maxeon's manufacturing facilities.

The Company's business outlook is based on management's current views and estimates with respect to market conditions, production capacity, the uncertainty of the continuing impact of the COVID-19 pandemic, and the global economic environment. Please refer to Forward Looking Statements section below. Management's views and estimates are subject to change without notice.

For earnings history and earnings-related data on Maxeon (MAXN) click here.

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