In the final Quarter of 2019, the solar panel manufacturer, SunPower posted a Net income of $5.4 million dollars, which was not only a quarter-over-quarter improvement but a year-over-year improvement as well!
Overall all SunPower finished 2019 with a net income of $22.2 million dollars, and with $420 million in cash! The solar power company plans on using the cash to pay off over $30 million of its debt in the first quarter of 2020.
Despite finishing off 2019 profitable, SunPower predicts GAAP net losses of $145 to $195 for the full year in 2020. Predicting that in the first quarter alone net losses may reach up to $70-85 Million.
The solar company isn’t a stranger to losses. SunPower experienced net losses in 2015, 2016, 2017 and 2018 before coming back to profit in 2019.
Though the solar power company came back to profit in 2019 the records still show the company ended 2019 with $105 million in short-term debt and $113 million in long-term debt.
What do you think SunPower’s losses will be? Comment below and let us know.
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