The solar panel maker, though, anticipates positive cash flow from operations through the end of 2017 and exit the year with about $300 million in cash.
Solar ETF investors have been hit in 2016, with the Guggenheim Solar ETF (NYSEArca: TAN) down 41.7% and the VanEck Vectors Solar Energy ETF (NYSEArca: KWT) 41.9% lower year-to-date. Consequently, an improving outlook may suggest that the worst may be over and the market segment may have bottomed out.
KWT tracks a group of global companies involved in photovoltaic and solar power, or the provision of solar power equipment/technologies and material or services to solar power equipment/technologies producers. The VanEck ETF includes a large 31.7% tilt toward China, along with 20.0% U.S. and 19.1% Taiwan. SunPower also makes up 2.8% of TAN’s underlying portfolio.
TAN also follows global companies involved in the solar industry and the entire value chain. The Guggenheim offering focuses on U.S. companies with a 50.4% tilt, along with a large 19.2% position in Hong Kong companies and 18.6% China. SunPower is 4.2% of TAN’s underlying portfolio.
For more information on the photovoltaic panel industry, visit our solar category.