Scalper1 News
Late Thursday, No. 2 solar developer SunPower ( SPWR ) reported Q1 sales that topped Wall Street estimates, but it also posted its first quarterly loss since Q1 2012, and its current-quarter sales guidance lagged Wall Street views by about $400 million. SunPower stock was down 1.5% in after-hours trading Thursday, after the company released its earnings. Shares fell 3.7% in Thursday’s regular session. Last week, top rival First Solar ( FSLR ) reported Q1 sales that lagged Wall Street by about $100 million. For Q1, SunPower’s $433.6 million in sales ex items topped the consensus of 16 analysts polled by Thomson Reuters, but a 30-cent per-share loss minus items was greater than expectations for a 20-cent per-share loss. On a year-over-year basis, sales were flat, and its bottom line swung from a 13-cent per-share profit ex items in the year-earlier quarter. Current-quarter non-GAAP sales guidance for $310 million to $360 million would be down 11% at the midpoint. That fell far short of analysts’ model for $722 million. SunPower didn’t offer an earnings view, but the analyst consensus calls for a 22-cent per-share profit. Scalper1 News
Scalper1 News