Sunworks (NASDAQ:SUNW) Third Quarter 2023 Results
Key Financial Results
- Revenue: US$28.7m (down 30% from 3Q 2022).
- Net loss: US$36.4m (loss widened by US$31.0m from 3Q 2022).
- US$0.84 loss per share (further deteriorated from US$0.16 loss in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sunworks Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 33%. Earnings per share (EPS) also missed analyst estimates significantly.
Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Electrical industry in the US.
Performance of the American Electrical industry.
The company's shares are down 12% from a week ago.
Risk Analysis
We should say that we've discovered 5 warning signs for Sunworks that you should be aware of before investing here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqCM:SUNW
Sunworks
Sunworks, Inc., through its subsidiaries, engages in the provision of photovoltaic and battery based power and storage systems for the commercial, agricultural, industrial, public works, and residential markets in the United States.
Adequate balance sheet and fair value.
