SunPower Corporation (NASDAQ:SPWR) Q4 2018 Earnings Conference Call Transcript

Feb 13, 2019 • 04:30 pm ET


SunPower Corporation (NASDAQ:SPWR) Q4 2018 Earnings Conference Call Transcript


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Good afternoon. Welcome to SunPower Corporation's Fourth Quarter 2018 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call may be recorded.

I would now like to turn the call over to Mr. Bob Okunski, Vice President of Investor Relations at SunPower Corporation. Thank you, sir. You may begin.

Bob Okunski

Thank you, Daniel. I would like to welcome everyone to our fourth quarter 2018 earnings conference call.

On the call today, we will start off with an operational and strategic review from Tom Werner, our CEO; followed by Manu Sial, our CFO, who will review our fourth quarter 2018 financial results before turning the call back to Tom for guidance.

As a reminder, a replay of this call will be available later today on the Investor Relations page of our website.

During today's call, we will make forward-looking statements that are subject to various risks and uncertainties that are described in the Safe Harbor slide of today's presentation, today's press release, our 2017 10-K and our quarterly reports on Form 10-Q. Please see those documents for additional information regarding those factors that may affect these forward-looking statements.

To enhance this call, we have also posted a set of PowerPoint slides, which we will reference during the call on the Events and Presentations page of our Investor Relations website.

Finally, I'd like to remind everyone that we announced last quarter, we would report our Q4 and 2018 financial results under our new segmentation structure. Our earnings press release and supplemental slides reflect this change. We have also posted materials on our IR website, and in the appendix of today's slides detailing the last two years of historical results under the new segmentation for its comparison purposes.

Please see our 10-K for additional details on the impact of our new structure as well, and in the same location, we have posted a set of supplemental data sheets detailing some of our other historical metrics.

Finally, I'm pleased to announce that we have scheduled our 2019 Capital Markets Day for March 27th at the Westin Grand Central Hotel in New York City. The event will start at 9:00 AM Eastern Time and we'll webcast through our Investor Relations website. We will also post our presentation materials on the site prior to the start of the event.

With that, I'd like to turn the call over to Tom Werner, CEO of SunPower. Tom?

Tom Werner

Thanks, Bob, and thank you for joining us. On this call, we will provide an update on our strategic transformation, review our fourth quarter 2018 financial performance, and explain how our new segmentation will highlight the inherent value in each of our businesses.

First, an update on our transformation and long-term strategy. Please turn to Slide 3. Over the past two years, our focus has been on simplifying our business model and reducing leverage in order to improve financial