SunPower Corp (NASDAQ:SPWR) Q3 2022 Earnings Conference Call November 8, 2022 8:30 AM ET

Company Participants

Michael Weinstein - VP, IR

Peter Faricy - Chairman, President & CEO

Guthrie Dundas - Interim CFO

Conference Call Participants

Kasope Harrison - Piper Sandler & Co.

Sean Morgan - Evercore ISI

Colin Rusch - Oppenheimer

Michael Blum - Wells Fargo Securities

Pavel Molchanov - Raymond James & Associates

Maheep Mandloi - Crédit Suisse

Philip Shen - ROTH Capital Partners

Brian Lee - Goldman Sachs

Operator

Good morning, and welcome to the SunPower Corporation Third Quarter 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, today's conference call is being recorded. I would now like to turn the conference over your host Mr. Mike Weinstein, Vice President of Investor Relations at SunPower Corporation. Thank you, sir. You may begin.

Michael Weinstein

Good afternoon. I would like to welcome everyone to our third quarter 2022 earnings conference call. On the call today, we'll begin with comments from Peter Faricy, CEO of SunPower, who will provide an update with third quarter announcements and business highlights, followed by our expectations for the remainder of 2022. Following Peter's comments, Guthrie Dundas, SunPower's interim CFO, will then review our financial results and guidance for the year. As a reminder, a replay of the 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 2021 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.

Also, we will reference certain non-GAAP metrics during today's call. Please refer to the appendix of our presentation as well as today's earnings press release for the appropriate GAAP to non-GAAP reconciliations. Finally, to enhance the call, we have posted a set of PowerPoint slides, which we will reference during this call on the Events and Presentations page of our Investor Relations website. In the same location, we have posted a supplemental data sheet detailing additional historical metrics. With that, I'd like to turn the call over to Peter Faricy, CEO of SunPower. Peter?

Peter Faricy

Thanks, Mike, and good morning, everybody. In the third quarter, we continue to break records for customer growth and revenue, putting us on track towards the high end of our 2022 guidance for those metrics. The value of our solar and storage systems continues to grow as utility rates rise, and costs are offset by tax incentives from the Inflation Reduction Act. With a balanced approach to pricing, growth and profitability, we continue to build a growing market share against peers.