Complete Solar Holdings, Inc. d/b/a Complete Solar ("Complete Solar" or the "Company") (NASDAQ:CSLR), a solar technology, services, and installation company, today announced preliminary Q3'24 financial results of $117.3 million in revenue with a $42.0 million loss for the post-merger company combining CSLR and SunPower.
Complete Solar CEO, T.J. Rodgers said, "On Wednesday, November 6, 2024, at our Orem, Utah HQ, we will present to over 1,000 employees the details of our Rev. 5 Annual Operating Plan for cutting headcount and other costs to achieve breakeven operating income in 2025. Since my style has always been to present and explain plans broadly to employees, I am releasing the headline information now to preempt any early dissemination of material non-public information prior to our formal November 13 report to shareholders, at which the final financial results will be presented for the old Complete Solar, which has already been merged into the Dealer Division of SunPower. We will also present the two-year "stub" financial results for the old SunPower divisions: New Homes, Blue Raven and Dealer:
Preliminary Q3'24 Financial Results (millions)
Profit Before Tax (PBT)
Division
Charter
Revenue
GAAP
non-GAAP
New Homes
Sales to homebuilders
$53.2
N/A
($12.0)
Blue Raven Solar
Sales direct to customer
$43.5
N/A
($6.8)
Dealer (+ CSLR)
Sales of jobs from dealers
$20.6
N/A
($22.2)
$117.3
($64.1)
($41.0)*
*GAAP vs. non-GAAP reconciliation attached. Differences due to ...
