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Complete Solaria (CSLR)
NASDAQ:CSLR
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Earnings Data
Report Date
Nov 14, 2024Before Open Confirmed
Period Ending
2024 (Q3)Consensus EPS Forecast
-$0.11Last Year’s EPS
-$0.28Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Aug 14, 2024
|% Change Since: -18.38%
|Next Earnings Date:Nov 14, 2024
Earnings Call Sentiment|Neutral
The earnings call reflects a company undergoing significant transformation through strategic acquisitions and cost-cutting measures. While there are substantial challenges, particularly related to the SunPower bankruptcy, the management has laid out a clear path towards stabilization and growth. The highlights, such as successful acquisition and cost reduction strategies, are noteworthy, but the decline in new homes business and revenue projections temper the overall outlook.Company Guidance
During the earnings call for Complete Solar's Q3 2024, T.J. Rogers and Daniel Foley provided various financial metrics and guidance. They reported a combined revenue of $117 million for the quarter, although this included some backlog orders which are not expected to repeat in Q4, leading to a forecasted revenue of $80 million. The company successfully raised $80 million through convertible debt, with an additional $14 million expected from Chinese investors. Operating losses in Q3 were highlighted at $40 million, with expectations to reduce this to a range between $2 million and $11 million in Q4 due to significant headcount and operational cost reductions. The full diluted share count is projected to be approximately 143 million by year-end, and they anticipate having $20 to $25 million in cash on the balance sheet. The company aims to achieve breakeven within a few quarters at an $80 million revenue run rate.Successful Acquisition of SunPower Assets
Complete Solar acquired SunPower's assets, hiring 1,204 SunPower employees and raising $80 million to fund the acquisition.
Revenue Growth and Future Potential
The combined revenue for the last quarter was $117 million, showcasing the potential for scaling operations.
Significant Cost Reductions
Expected operating loss to drop from $40 million to $2-11 million in Q4 2024 due to significant headcount reduction and operational efficiencies.
Strategic Partnerships for Battery Management
Partnership with Hannon Armstrong to manage SunPower's battery systems, ensuring customer satisfaction and operational continuity.
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CSLR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CSLR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $1.85 | $2.24 | +21.08% |
| Aug 14, 2024 | $1.60 | $1.62 | +1.25% |
| May 02, 2024 | $0.62 | $0.69 | +11.29% |
| Nov 14, 2023 | $1.08 | $0.99 | -8.33% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Complete Solaria (CSLR) report earnings?
Complete Solaria (CSLR) is schdueled to report earning on Nov 14, 2024, Before Open Confirmed.
What is Complete Solaria (CSLR) earnings time?
Complete Solaria (CSLR) earnings time is at Nov 14, 2024, Before Open Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CSLR EPS forecast?
CSLR EPS forecast for the fiscal quarter 2024 (Q3) is -$0.11.
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