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Sunpower Corp (SPWR) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 27, 2020

Sunpower Corp

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CIK: 867773 Ticker: SPWR

Exhibit 99.1

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

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Tara Klein
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Tklein@bateman.agency

SunPower Reports Third Quarter 2020 Results

Company Raises FY 2020 Net Income and Adjusted EBITDA Guidance
Strong Execution in Residential / C&I Business Posts Positive Adjusted EBITDA


SAN JOSE, Calif., Oct. 28, 2020
 - SunPower Corp. (NASDAQ: SPWR) today announced financial results for its third quarter ended September 27, 2020.

Third Quarter Company Highlights
•Successfully completed spin-off of Maxeon Solar Technologies; new segmentation announced
•Exceeded revenue and Adjusted EBITDA guidance; expanded gross margin per watt
•Ended quarter with $325 million in cash

Residential and Light Commercial (RLC)
•Residential strength – $15 million Adjusted EBITDA, added 10,000 customers
•New product success – significant SunVault™ storage demand; >100 OneRoof™ installs to date
•Closed new residential solar plus storage financing facility to drive substantially better economics
•Secured committed tax equity capacity to meet demand through mid-2021

Commercial and Industrial Solutions (C&I Solutions)
•Posted positive Adjusted EBITDA for the quarter
•More than doubled gross margin per watt year over year
•Storage adding $0.20/w to pipeline, > 30 percent attach rates for projects in backlog
•Fully booked for the fourth quarter; >275 megawatts (MW) projects contracted / awarded


The following information was filed by Sunpower Corp (SPWR) on Wednesday, October 28, 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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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 - 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 - 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)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Assets And Liabilities (Details)
Discontinued Operations - Income Statement (Details)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Non-Cash Transactions (Details)
Equity Investments
Equity Investments - Consolidated Vies (Details)
Equity Investments - Equity Method Investments (Details)
Equity Investments - Related Party Transactions With Investees (Details)
Equity Investments - Summarized Financial Information Of Unconsolidated Vies (Details)
Equity Investments - Unconsolidated Vies (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 (Policies)
Organization And Summary Of Significant Accounting Policies - Credit Losses (Details)
Organization And Summary Of Significant Accounting Policies - Liquidity (Details)
Organization And Summary Of Significant Accounting Policies - Spin-Off (Details)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
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)
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)
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 Agreements (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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: SPWR
CIK: 867773
Form Type: 10-Q Quarterly Report
Accession Number: 0000867773-20-000098
Submitted to the SEC: Thu Oct 29 2020 8:34:10 PM EST
Accepted by the SEC: Fri Oct 30 2020
Period: Sunday, September 27, 2020
Industry: Semiconductors And Related Devices

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