Posted by Tate Dwinnell | # | 04:54:34 pm on November 11, 2010 Sunpower (SPWRA) has announced earnings results after the bell today that doubled the analyst estimates on the EPS side at .26/share on revenues of $550 million vs the analyst estimate for $471 million. While that’s a big bump over the average estimate it’s not impressive when compared to the year ago quarter when the company reported .46 EPS. I just don’t think the quarter is going to be enough for another big leg up in the stock, but we’ll see. The stock has been consolidating for a couple months now and still looks considerably bullish. ====> Click Here For Your FREE Sunpower Technical Analysis
Here are some highlights from comments made by CEO Tom Werner: - stable ASP environment in the quarter - continues to see more demand than supply for 2011 in their utility & power plants and residential and commercial biz - expanded their commercial and residential global dealer footprint in US, France & Italy - expects to finance and monetize balance of Italian projects by end of year - expects to achieve cost of $1.08/watt within about one year Looking ahead the company expects Q4 revenue in the $870 – $970 range and for the full year 2010 expects revenues in the $2.15 – $2.25 billion range. Analysts expect $935 million and $2.15 billion respectively. For EPS, the company sees Q4 at .95 – 1.15 and the full year at 1.45 – 1.65 vs the analysts estimates of $1.10 and $1.43.