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Sunpower Corp (SPWR) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 28, 2020

Sunpower Corp

CIK: 867773 Ticker: SPWR

Exhibit 99.1

Contacts:

Investors
Bob Okunski
408-240-5447
Bob.Okunski@sunpower.com

Media
Natalie Wymer
650-223-9132
Natalie.Wymer@sunpower.com

SunPower Reports Second Quarter 2020 Results

Strong Global Execution, U.S. Channels Outperformance
Maxeon Spin-Off Distribution Scheduled for August 26, 2020


SAN JOSE, Calif., Aug. 5, 2020 - SunPower Corp. (NASDAQ: SPWR) today announced financial results for its second quarter ended June 28, 2020.

Second Quarter Company Highlights
Exceeded revenue, gross margin, megawatt (MW) and Adjusted EBITDA guidance
Positive cash generation of approximately $30 million

SunPower Energy Services (SPES)
U.S. Channels outperformance / Commercial Direct business - positive Adjusted EBITDA
New product expansion – SunVault, our Equinox residential storage solution; OneRoof for new homes market

SunPower Technologies (SPT)
Strong recovery in international distributed generation (DG) demand
Announced industry leading, 625W, Performance-5 bifacial shingled panel; Enphase partnership for international DG market
Maxeon Solar Technologies successfully completed $325 million in financing to strengthen post-spin balance sheet


The following information was filed by Sunpower Corp (SPWR) on Wednesday, August 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Sunpower Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Sunpower Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parentheticals)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Equity (Deficit)
Condensed Consolidated Statements Of Operations
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Accounts Receivable, Net (Details)
Balance Sheet Components - Accrued Liabilities (Details)
Balance Sheet Components - Accumulated Other Comprehensive Loss (Details)
Balance Sheet Components - Allowance For Credit Losses (Details)
Balance Sheet Components - Inventories (Details)
Balance Sheet Components - Narrative (Details)
Balance Sheet Components - Other Long-Term Assets (Details)
Balance Sheet Components - Other Long-Term Liabilities (Details)
Balance Sheet Components - Prepaid Expenses And Other Current Assets (Details)
Balance Sheet Components - Property, Plant And Equipment, Net (Details)
Balance Sheet Components - Property, Plant And Equipment, Net, By Geography (Details)
Business Divestiture
Business Divestiture (Tables)
Business Divestiture - Assets And Liabilities (Details)
Business Divestiture - Narrative (Details)
Business Divestiture - Net Gain On Sale (Details)
Business Divestiture - Proceeds Received (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Advances From Customers (Details)
Commitments And Contingencies - Advances To Suppliers (Details)
Commitments And Contingencies - Facility And Equipment Leases (Details)
Commitments And Contingencies - Future Maturities (Details)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Product Warranties (Details)
Commitments And Contingencies - Purchase Commitment (Details)
Debt And Credit Sources
Debt And Credit Sources (Tables)
Debt And Credit Sources - Narrative (Details)
Debt And Credit Sources - Non-Recourse Debt (Details)
Debt And Credit Sources - Schedule Of Convertible Debt (Details)
Debt And Credit Sources - Schedule Of Debt (Details)
Debt And Credit Sources - Schedule Of Maturities (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Details)
Derivative Financial Instruments (Tables)
Equity Investments
Equity Investments - Consolidated Vies (Details)
Equity Investments - Equity Method Investments (Details)
Equity Investments - Narrative (Details)
Equity Investments - Related Party Transactions With Investees (Details)
Equity Investments - Sunstrong Llc (Details)
Equity Investments Equity Investments (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Equity Method Investments Activity (Details)
Fair Value Measurements - Level 3 Significant Unobservable Input Sensitivity (Details)
Fair Value Measurements - Narrative (Details)
Income Taxes
Income Taxes (Details)
Net Income (Loss) Per Share (Tables)
Net Income Per Share
Net Income Per Share - Anti-Dilutive Securities (Details)
Net Income Per Share - Calculation Of Basic And Diluted Net Loss Per Share Attributable (Details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (Details)
Organization And Summary Of Significant Accounting Policies (Policies)
Organization And Summary Of Significant Accounting Policies - Liquidity (Details)
Restructuring
Restructuring (Details)
Restructuring (Tables)
Restructuring - Cost (Details)
Restructuring - Rollforward (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Contract Assets And Liabilities (Details)
Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)
Revenue From Contracts With Customers - Narrative (Details)
Revenue From Contracts With Customers - Net Change In Estimate (Details)
Revenue From Contracts With Customers - Performance Obligations (Details)
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information - Narrative (Details)
Segment And Geographical Information - Reconciliation Of Other Significant Reconciling Items From Segments To Consolidated (Details)
Segment And Geographical Information - Reconciliation Of Segment Gross Profit To Condensed Consolidated Gaap Gross Profit) (Details)
Segment And Geographical Information - Reconciliation Of Segment Revenue To Condensed Consolidated Gaap Revenue (Details)
Segment And Geographical Information - Reconciliation Of Segments Ebitda To Loss Before Income Taxes And Equity In Earnings (Losses) Of Unconsolidated Investees (Details)
Segment And Geographical Information - Revenue From External Customers By Geographic Areas (Details)
Solar Services
Solar Services (Tables)
Solar Services - Lease Payments To Be Received (Details)
Solar Services - Narrative (Details)
Solar Services - Operating Leases (Details)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Subsequent Events
Subsequent Events (Details)
Transactions With Total And Total S.A.
Transactions With Total And Total S.A. (Tables)
Transactions With Total And Total S.A. - 4.00% Debentures Due 2023 (Details)
Transactions With Total And Total S.A. - Affiliation Agreement (Details)
Transactions With Total And Total S.A. - Joint Solar Projects With Total And Its Affiliates (Details)
Transactions With Total And Total S.A. - Narrative (Details)
Transactions With Total And Total S.A. - Revenue From Related Parties (Details)
Transactions With Total And Total S.A. - Schedule Of Related Party Transactions (Details)
Transactions With Total And Total S.A. - Supply Agreement (Details)
Transactions With Total And Total S.A.- 0.875% Debentures Due 2021 (Details)

Material Contracts, Statements, Certifications & more

Sunpower Corp provided additional information to their SEC Filing as exhibits

Ticker: SPWR
CIK: 867773
Form Type: 10-Q Quarterly Report
Accession Number: 0000867773-20-000076
Submitted to the SEC: Wed Aug 05 2020 5:01:36 PM EST
Accepted by the SEC: Wed Aug 05 2020
Period: Sunday, June 28, 2020
Industry: Semiconductors And Related Devices

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