SunPower Announces Fiscal Year 2016 Guidance

SunPower Corp. recently announced financial guidance for fiscal year 2016.For fiscal year 2016, the company expects non-GAAP revenue of $3.3 billion to $3.5 billion, gross margin of 13 percent to 15 percent, EBITDA of $515 million to $565 million, capital expenditures of $210 million to $240 million and gigawatts (GW) deployed in the range of 1.7 GW to 2.0 GW. On a GAAP basis, the company expects revenue of $1.2 billion to $1.4 billion, gross margin of 16 percent to 18 percent and net loss of $415 million to $365 million.

Fiscal year 2016 financial guidance reflects the impact of planned project sales to 8point3 Energy Partners. On a non-GAAP basis, the company expects gross margin from these project sales to be partially deferred beyond 2016. On a GAAP basis, the company expects revenue and gross margin from the sale of these projects to be deferred beyond 2016.

SunPower will discuss its fiscal year 2016 outlook during its 2015 Analyst Day to be held today, Nov. 12, 2015, starting at 9:00 a.m. Eastern Time. Please note that the entire event will be webcast and relevant materials will be posted to the company’s website before the event.