1752 ET - Maxeon Solar Technologies' issues with its manufacturing network come at a challenging time for the solar panel industry. The company is trying to transform its business to better compete in the U.S., the only country where it operates after the sale of its non-U.S. business late last year. However, the solar market remains challenging and the company faces near-term headwinds, CEO George Guo says. Nationally, residential solar installations declined by 26% in 2024, according to research from energy analyst Wood Mackenzie. It attributed the downtick to customer uncertainty and higher interest rates, among other factors. In the latest quarter, Maxeon reported revenue of $88.6 million, down from $227.6 million for the same period a year earlier. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 04, 2025 17:53 ET (21:53 GMT)
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