Maxeon Solar Technologies Ltd (NASDAQ:MAXN) shares are trading lower by 7.6% to $12.66 after the company reported worse-than-expected fourth-quarter EPS and sales results. The company also issued first-quarter sales guidance below analyst estimates.
Maxeon Solar Technologies reported quarterly losses of $1.81 per share which missed the analyst consensus estimate of a loss of $1.29. Maxeon Solar Technologies reported quarterly sales of $221.48 million which missed the analyst consensus estimate of $222.99 million by 1%. This sales figure represents a 9.8% decrease over sales of $245.56 million in the same period last year.
