SunPower: 3Q Earnings Snapshot

October 30, 2019 GMT

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPWR at https://www.zacks.com/ap/SPWR