(Reuters) -SunPower has identified misstatements in its results for fiscal year 2022, the U.S. solar power storage and energy service provider said in a regulatory filing on Tuesday. The misstatements relate to capitalization of certain deferred costs and wrongly classified sales commissions as cost of revenue, among other things. The company's stock was up 6%, tracking peers, after falling more than 20% earlier following the news.
(Bloomberg) -- SunPower Corp. tumbled the most in four months after disclosing plans to restate almost two years of financial results. Most Read from BloombergTesla Stock in ‘No Man’s Land’ After 43% Rout Ahead of EarningsTaylor Swift Is Proof That How We Critique Music Is BrokenRay Dalio’s Famous Trade Is Sputtering, Investors BailingTech Giants Roar as Tesla Spikes in Late Hours: Markets WrapBillionaire Pinaults Fight to Pull Gucci Off the Discount RackThe rooftop solar company expects the rev
The sun will come out tomorrow, but SunPower may not live to see it.