Pineapple Energy expects improvements in second half of 2024 with increased sales and decreased expenses.

From GlobeNewswire: 2024-08-26 21:53:00

Pineapple Energy Inc. (Nasdaq: PEGY) provides an update on business activities, acknowledging challenges in Q2 but expecting improvements in the second half of 2024. SUNation, Pineapple’s New York subsidiary, saw positive metrics compared to last year, with increased system sales and decreased operating expenses. Quarterly financial highlights include a $13,549,420 revenue and a 20% decrease in operating expenses.

Interim CEO, Mr. Maskin, acknowledges challenges in Q2 but anticipates improvements in commercial projects for the third quarter. Efforts to diversify revenue streams show promising signs with a 46% increase in commercial contract sales. Pineapple Energy’s financials in Q2 show a decrease in gross profit and an increase in operating losses compared to the previous year.

Pineapple Energy aims to become a national industry leader, focusing on growth and refinements to address market opportunities. Forward-looking statements highlight future financial performance and growth prospects. Pineapple Energy’s portfolio of brands offers solar, storage, and energy services to residential and commercial sectors nationwide, emphasizing a commitment to shareholders, employees, and customers.



Read more at GlobeNewswire:: Correction – Pineapple Energy Highlights Market Factors