SunPower Shines on Earnings, Misses on Guidance

Loading...
Loading...
SunPowerSPWR
, the second largest U.S. solar panel maker, reported results after the close, with the company beating lowered expectations but issuing a cautious guidance outlook. Earnings came in at $0.28 per share, topping analysts forecasts of $0.25. Revenues were $621.1 million, a drop of nearly 4.5 percent year over year, but still eclipsing the $596 million consensus. In issuing guidance, SunPower said it expects to earn between $0.15 and $0.35 per share on revenue of $600 million to $650 million in the third quarter. Most analysts were looking for $0.30 per share on $660 million in sales. Full year guidance was also at the lower end of the expected range of $1.15 and $1.40 a share in earnings and revenue of $2.50 to $2.65 billion. Analysts were looking for $1.30 a share and revenue of approaching $2.6 billion. Shares of SunPower were trading lower at 34.80 after hours, a nearly five percent drop from the closing price of 36.73.
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsAfter-Hours Center
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...