SunPower reports Q1 non-GAAP EPS (7c), consensus (1c)

Reports Q1 revenue $440.9M, consensus $420.74M. "We exited the Q1 with high customer growth, significant new financing commitments, and unprecedented retrofit backlog driven by our efforts securing customers under NEM 2.0. This progress, despite challenging weather in California, validates the strength of the residential solar market and SunPower’s ability to capture growing demand," said Peter Faricy, SunPower CEO. "As retail electricity rates continue to rise and consumers urgently seek a more affordable and reliable source of energy, the solar value proposition remains strong."