SunPower (SPWR) reported its fourth-quarter and fiscal 2018 financial results on February 13. The company reported an adjusted loss of $0.21 per share for the quarter ending December 31—compared to a profit of $0.25 per share in the fourth quarter of 2017. In the third quarter, SunPower posted a loss of $0.29 per share. SunPower’s fourth-quarter earnings are adjusted mainly for non-recurring items like impairment and the sale of residential lease assets and sale-leaseback transactions.
SunPower’s loss widened in fiscal 2018. The company reported a loss of $0.72 per share in 2018—compared to a loss of $0.25 per share in 2017.
SunPower’s total operating revenues were $525 million in the fourth quarter—a decrease of 36% compared to the fourth quarter of 2017. In the third quarter, the company reported revenues of $443 million.
SunPower Energy Services is a segment that handles the company’s residential and commercial distributed generation business. SunPower Energy Services reported revenues of $265 million in the fourth quarter—an increase from $259 million in the fourth quarter of 2017. The residential annual deployment of distributed generation increased 15% in 2018 YoY (year-over-year) driven by ~40,000 new residential customers during the year. SunPower Technologies includes manufacturing solar panels business. SunPower Technologies’ revenues fell from $541 million in the fourth quarter of 2017 to $277 million in the fourth quarter.
For 2019, SunPower plans to invest ~$75 million. The company expects to generate revenues of $1.9 billion–$2.0 billion, which implies an increase of ~8% YoY.