Here's Why Maxeon Solar Technologies Shares Are Falling

Maxeon Solar Technologies Ltd MAXN shares are trading lower by 7.6% to $12.66 after the company reported worse-than-expected fourth-quarter EPS and sales results. The company also issued first-quarter sales guidance below analyst estimates.

Maxeon Solar Technologies reported quarterly losses of $1.81 per share which missed the analyst consensus estimate of a loss of $1.29. Maxeon Solar Technologies reported quarterly sales of $221.48 million which missed the analyst consensus estimate of $222.99 million by 1%. This sales figure represents a 9.8% decrease over sales of $245.56 million in the same period last year.

Maxeon Solar Technologies also sees first-quarter sales as low as $210 million or as high as $220 million, which is lower than the analyst consensus estimate of $237 million.

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Maxeon Solar Technologies is engaged in the design, manufacture and distribution of solar products.

Maxeon Solar Technologies has a 52-week high of $33.81 and a 52-week low of $7.48.