The sun is not shining on solar stocks these days. Evergreen Solar Inc. (NASDAQ:ESLR) reported a fourth-quarter net loss of $52.1 million (EPS of -$0.32) on revenue of $44.2 million. Analysts had expected an EPS loss of -$0.14 on revenue of $46.5 million. Evergreen’s woes are the result of a plant closure, an equipment write-down, and start-up costs on new plants in Massachusetts and Michigan. According to Reuters, the company missed its own fourth-quarter forecasts for revenue and gross margins.
The share price fell in after-hours trading to $1.99, from a closing price of $2.22. The 52-week low for Evergreen was $1.89…. we are currently under that level.
Paul Ausick
February 6, 2009
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
