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SunPower ‘Guidance Bomb’ Leaves Crater Among Solar Companies

  • SunPower expects loss for 2016 after forecasting profit in May
  • First Solar, Canadian Solar reach lowest in almost three years
Operations At The Ivanpah Solar Electric Generating System
Photographer: Jacob Kepler/Bloomberg
Updated on

SunPower Corp. dropped a “guidance bomb” that’s dragging down shares of solar manufacturers.

The second-largest U.S. panel producer told analysts Tuesday night that it expects to lose as much as $175 million this year, a shift from May when it expected to earn as much as $50 million. The shares plunged the most in more than seven years.