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Maxeon Solar (MAXN) to Post Q2 Earnings: What's in Store?
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Maxeon Solar Technologies, Ltd. (MAXN - Free Report) is scheduled to report its second-quarter 2023 results on Aug 10 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 190.20%. Maxeon has a trailing four-quarter earnings surprise of 36.65%, on average.
Factors to Note
Strong revenues and volumes from Maxeon’s distributed generation business are likely to have bolstered the company’s overall second-quarter revenues. A probable sales increase in panels, storage and EV charger products is also likely to have driven the second-quarter top line.
Region-wise, the European region is likely to have been a notable contributor to Maxeon’s second-quarter revenues. The second-quarter results are likely to reflect healthy revenue contributions from the United States, especially in the premium product segment. Moreover, the company’s contract with SunPower for solar panels is likely to have contributed to MAXN’s second-quarter revenues.
The Zacks Consensus Estimate for MAXN’s second-quarter revenues is pegged at $376.5 million, suggesting growth of 58.1% from the year-ago quarter.
A strong top line is expected to have aided the bottom of the company. A higher margin from the U.S. residential channel is likely to have positively contributed to the earnings of the company in the second quarter. The lower cost of goods sold is likely to have led to the margin expansion of the company, thus favorably contributing to its earnings.
The Zacks Consensus Estimate for second-quarter earnings is pegged at a loss of 18 cents per share, suggesting a notable improvement from the prior-year quarter’s reported loss of $2.15.
Maxeon Solar Technologies, Ltd. Price and EPS Surprise
Our proven model does not conclusively predict an earnings beat for Maxeon this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: Maxeon’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three solar companies that are yet to post their earnings:
JinkoSolar Holding Co., Ltd. (JKS - Free Report) : The Zacks Consensus Estimate for JinkoSolar’s second-quarter sales implies an improvement of 48.7% from the prior-year reported figure.
JKS delivered an earnings surprise of 313.51% in the last reported quarter. Estimates for its second-quarter earnings, pegged at $2.08 per share, imply an improvement of 87.4% from the year-ago quarter’s tally.
Emeren Group Ltd (SOL - Free Report) : The Zacks Consensus Estimate for its second-quarter sales is pegged at $38.9 million, suggesting growth of 374.1% from the year-ago quarter’s tally.
Estimates for its second-quarter bottom line, pegged at 10 cents per share, call for a massive improvement from the year-ago quarter’s loss figure. SOL delivered a four-quarter average earnings surprise of 31.25%.
Canadian Solar Inc. (CSIQ - Free Report) : The Zacks Consensus Estimate for Canadian Solar’s second-quarter sales suggests growth of 8.1% from the prior-year reported figure.
Estimates for its second-quarter earnings, pegged at $1.52 per share, indicate an improvement of 42.1% from the year-ago quarter’s tally. CSIQ has a four-quarter earnings surprise of 106.28%, on average.
Image: Bigstock
Maxeon Solar (MAXN) to Post Q2 Earnings: What's in Store?
Maxeon Solar Technologies, Ltd. (MAXN - Free Report) is scheduled to report its second-quarter 2023 results on Aug 10 after the closing bell.
In the last reported quarter, the company delivered an earnings surprise of 190.20%. Maxeon has a trailing four-quarter earnings surprise of 36.65%, on average.
Factors to Note
Strong revenues and volumes from Maxeon’s distributed generation business are likely to have bolstered the company’s overall second-quarter revenues. A probable sales increase in panels, storage and EV charger products is also likely to have driven the second-quarter top line.
Region-wise, the European region is likely to have been a notable contributor to Maxeon’s second-quarter revenues. The second-quarter results are likely to reflect healthy revenue contributions from the United States, especially in the premium product segment. Moreover, the company’s contract with SunPower for solar panels is likely to have contributed to MAXN’s second-quarter revenues.
The Zacks Consensus Estimate for MAXN’s second-quarter revenues is pegged at $376.5 million, suggesting growth of 58.1% from the year-ago quarter.
A strong top line is expected to have aided the bottom of the company. A higher margin from the U.S. residential channel is likely to have positively contributed to the earnings of the company in the second quarter. The lower cost of goods sold is likely to have led to the margin expansion of the company, thus favorably contributing to its earnings.
The Zacks Consensus Estimate for second-quarter earnings is pegged at a loss of 18 cents per share, suggesting a notable improvement from the prior-year quarter’s reported loss of $2.15.
Maxeon Solar Technologies, Ltd. Price and EPS Surprise
Maxeon Solar Technologies, Ltd. price-eps-surprise | Maxeon Solar Technologies, Ltd. Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Maxeon this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: Maxeon’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Maxeon currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Upcoming Solar Releases
Here are three solar companies that are yet to post their earnings:
JinkoSolar Holding Co., Ltd. (JKS - Free Report) : The Zacks Consensus Estimate for JinkoSolar’s second-quarter sales implies an improvement of 48.7% from the prior-year reported figure.
JKS delivered an earnings surprise of 313.51% in the last reported quarter. Estimates for its second-quarter earnings, pegged at $2.08 per share, imply an improvement of 87.4% from the year-ago quarter’s tally.
Emeren Group Ltd (SOL - Free Report) : The Zacks Consensus Estimate for its second-quarter sales is pegged at $38.9 million, suggesting growth of 374.1% from the year-ago quarter’s tally.
Estimates for its second-quarter bottom line, pegged at 10 cents per share, call for a massive improvement from the year-ago quarter’s loss figure. SOL delivered a four-quarter average earnings surprise of 31.25%.
Canadian Solar Inc. (CSIQ - Free Report) : The Zacks Consensus Estimate for Canadian Solar’s second-quarter sales suggests growth of 8.1% from the prior-year reported figure.
Estimates for its second-quarter earnings, pegged at $1.52 per share, indicate an improvement of 42.1% from the year-ago quarter’s tally. CSIQ has a four-quarter earnings surprise of 106.28%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.