SunPower Corp. rebounded from its first quarterly loss in two years as the second-largest U.S. solar-panel maker shifted its power-plant strategy.

Net income in the second quarter was $6.5 million for the second quarter, or 4 cents a share, down from $14.1 million, or 9 cents, a year earlier, San Jose, California-based SunPower said Tuesday in a statement. Excluding some items, it reported a profit of 18 cents a share, exceeding the 16-cent average of nine estimates compiled by Bloomberg.

Besides making panels, SunPower also develops and sells large solar farms. It’s now shifting that strategy, retaining projects longer before selling them to a joint venture it formed this year with First Solar Inc., the biggest U.S. solar manufacturer. Chief Executive Officer Tom Werner said he doesn’t expect to sell many solar farms to the new company until the fourth quarter.