SunPower Stock Tumbles. Earnings Were That Bad.

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SunPower now expects to post a fiscal 2023 net loss of between $175 million and $165 million.

SunPower stock was sinking Wednesday after the solar power company cut its fiscal 2023 outlook on weakening demand.

The company also now expects to post negative earnings before interest, taxes, depreciation, and amortization of between $35 million and $25 million. SunPower previously guided for fiscal 2023 adjusted Ebitda to be between $55 million and $75 million.

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