SunPower earned $0.06 a share in the first quarter on revenues of $635 million. For the second quarter ending in June, the company now forecasts adjusted EPS between $0.05 and $0.15 on revenues of $550 million to $600 million. The consensus estimates had called for a net loss of $0.02 per share on revenues of $513.31 million.
For the full-year, SunPower now estimates adjusted EPS in the range of $0.60 to $0.80 on revenues of $2.5 to $2.6 billion. These estimates are pretty much inline with the current consensus for EPS of $0.64 on revenues of $2.55 billion.
The company said it would provide detail on its guidance in a conference call later this morning. But the construction of its Antelope Valley Ranch project and its success at lease financing are likely to be the reasons for the company’s optimism for the current year.
Investors like what they have read so far. Shares are about 7.3% in premarket trading this morning, at $20.41, which would be a new 52-week high if it holds. The current 52-week range is $3.71 to $19.50.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
