SunPower: 3Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported a loss of $15 million in its third quarter.
The San Jose, California-based company said it had a loss of 11 cents per share. Earnings, adjusted for one-time gains and costs, came to 7 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The solar products and services company posted revenue of $476 million in the period. Its adjusted revenue was $491.7 million.
For the current quarter ending in December, SunPower said it expects revenue in the range of $520 million to $720 million. Analysts surveyed by Zacks had expected revenue of $617.5 million.
The company expects full-year revenue in the range of $1.9 billion to $2.1 billion.
SunPower shares have risen 69% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.40, a rise of 31% in the last 12 months.