SunPower posts $48.5m loss on weak Europe, lower output

Solar panel maker SunPower reports a $48.5m net loss, or 41 cents a share, in the third quarter as production declined to 227MW and higher sales in the Americas could not compensate for a weaker performance in Europe, the Middle East and Africa.

Net loss a year earlier was $370.8m, or $3.77 per share, when production was 272MW.

Third quarter sales declined to $649m from $705.4m a year earlier. They did increase from $595.9m in the second quarter when SunPower posted an $84.2m net loss, or 71 cents a share.

Revenue from the Americas was the major bright spot in the third quarter at $502.3m, up from $368.6m a year earlier and $392.2m in the second quarter.

Sales in Europe, the Middle East and Africa plunged to $88.5m from $293m a year earlier and $155.4m…

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