Consensus for Q3 revenue is $316.2M. Lowers Q3 adjusted EBITDA view by $30M. CEO Bill Mulligan commented, “our largest US DG customer breached their payment obligations under our current Master Supply Agreement and we paused shipments in late July as a result. While this customer has recently made several payments on their outstanding balance and is now close to becoming current, we continue to pause our shipments and engage in good faith towards resolution of certain ongoing claims of breach under the MSA. We do not have visibility into how quickly such resolution can be achieved. It is our position that we have firm quantity and pricing contracts in place.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MAXN:
- What You Missed This Week in EVs and Clean Energy
- Maxeon Solar initiated with a Neutral at UBS
- Maxeon Solar, Complete Solaria sign agreement for purchase of assets
- Maxeon Solar price target lowered to $22 from $30 at Morgan Stanley
- SunPower ‘to work jointly’ with Maxeon Solar to resolve supply pact negotiations