SunPower Reports Q2 2026 Results as Revenue Falls, Targets Sharp Q3 Recovery
SunPower Inc. reported weaker second-quarter 2026 results on July 28, 2026, with revenue falling to $56.0 million from $72.8 million in Q1 2026, driven by delays in approximately 1,105 residential solar projects that were not submitted for funding due to incomplete documentation and permitting issues. The company posted a non-GAAP operating loss of $12.5 million, slightly improved from a $12.9 million loss in the prior quarter. Management implemented permanent cost reductions of $13.0 million quarterly through workforce cuts and organizational restructuring, and reduced operating expenses by $19.7 million quarter-over-quarter. CEO T.J. Rodgers replaced senior management in the SunPower Direct division. The company targets Q3 revenue exceeding $75 million and a 90% reduction in non-GAAP operating loss. Cash ended the quarter at $4.0 million, below the $10 million minimum target. Despite operational issues, management cited record recent bookings as evidence of healthy customer demand.
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