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SunPower Corporation Message Board

  • lakers_w lakers_w Nov 12, 2010 12:23 PM Flag

    Spwr beats by a wide margin but is it enough?

    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.
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    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.

    To sum up, a real strong quarter out of SPWRA and solid guidance, I’m just not sure it’s enough for another surge higher right away.  The big resistance level right now is the $15 level which is the 200 day moving average.  Closing above that level would be very bullish for SPWRA.  Shares are up about 1% in after hours trading.

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    • Despite today's crappy action, I like the look of the weekly chart which clearly shows the SPWRA is in a battle to clear $15 resistance.

      IMHO, today's reversal off the earnings has more to do with the general market and the price of oil than SPWRA.

      In the not too distant future, today's prices will look like a bargin when SPWRA once again attains the $20 range.

      Nice BUYING opportunity here.

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