SunPower ($SPWR) Books 63% YoY Revenue Growth In Q2; Significantly Expands Customer Backlog

Green Stock News

SunPower ($SPWR), a leading solar technology and energy services provider, has announced second quarter results that included accelerated revenue growth and new record customers.

The company set a quarterly record with 19,7000 new customers, which represented a 51% year-over-year increase. Additionally, SunPower reported revenue growth of 63% over the same quarter last year along with an increase in its customer backlog to more than 53,000 retrofit and new home customers.

During the second quarter the company also announced a new strategic relationship with IKEA. The new partnership will introduce solar and energy storage to a whole new consumer market and make renewable energy solutions more accessible. Through the collaboration, SunPower home energy products will be featured in select IKEA stores. The initiative is expected to launch in select California markets this Fall.

Peter Faricy, SunPower CEO commented: "With our strategic growth plan, investment in world-class customer experience and robust pipeline, SunPower is well positioned to capture the strong resulting demand for solar and storage. This quarter we added a record number of customers, including an all-time high for new home installs, and accumulated a backlog that we expect to set us up for high growth in the second half of the year."

SunPower offers the only solar + storage solution designed and warrantied by a single company. The all-in-one solution provides consumers with control over their electricity consumption and resiliency during power outages.

Shares of SunPower trade on the NASDAQ under the symbol SPWR. For more information visit www.greenstocknews.com