SunPower (NASDAQ: SPWR) reported Q2 EPS of $0.18, $0.01 better than the analyst estimate of $0.17. Revenue for the quarter came in at $376.7 million versus the consensus estimate of $513.07 million.

"SunPower achieved several extremely significant accomplishments during our second quarter," said Tom Werner, SunPower president and CEO. "First, we launched 8point3 Energy Partners (Nasdaq: CAFD), our joint YieldCo vehicle with First Solar. We believe 8point3 Energy Partners will provide us a significant long-term cost of capital advantage and enhance the scale and predictability of our future cash flows. Second, we increased the size of our North American pipeline by 1.5 gigawatts (GW) through the acquisition of Infigen Energy's U.S. solar project development portfolio. Finally, we signed three new, innovative utility channel partnerships in our distributed generation business, expanding our footprint in key residential markets.

SunPower sees Q3 2015 revenue of $400-450 million, which does not compare to the consensus of $640.9 million.

SunPower sees FY2015 revenue of $2.4-2.60 billion, versus the consensus of $2.6 billion.

Financial Outlook

The company's third quarter fiscal 2015 non-GAAP guidance is as follows: revenue of $400 million to $450 million, gross margin of 10 percent to 12 percent, EBITDA of $0 to $15 million and megawatts deployed in the range of 300-MW to 330-MW. On a GAAP basis, the company expects revenue of $400 million to $450 million, gross margin of 10 percent to 12 percent and net loss per diluted share of $0.60 to $0.50. Third quarter 2015 GAAP guidance includes the impact of the company's holdco strategy and deferrals due to real estate accounting.

For fiscal year 2015, the company's expectations are as follows: non-GAAP revenue of $2.40 billion to $2.60 billion, gross margin of 21 percent to 23 percent, net income per diluted share of $1.50 to $1.80, capital expenditures of $250 million to $300 million and gigawatts deployed in the range of 1.25-GW to 1.30-GW. On a GAAP basis, the company expects 2015 revenue of $1.50 billion to $1.70 billion, gross margin of 10 percent to 12 percent and net loss per diluted share of $2.35 to $2.05. Fiscal year 2015 GAAP guidance includes the impact of the company's holdco strategy and deferrals due to real estate accounting.

The company is also raising its 2015 EBITDA guidance range originally given at its Analyst Day on November 13, 2014 from $400 - $450 million to $425 - $475 million, and the company expects 2016 EBITDA growth of approximately 20 percent from the midpoint of the 2015 range.

For earnings history and earnings-related data on SunPower (SPWR) click here.