SunPower (SPWR) Tops Q4 EPS by 2c

SunPower (NASDAQ: SPWR) reported Q4 EPS of $0.23, $0.02 better than the analyst estimate of $0.21. Revenue for the quarter came in at $603.8 million versus the consensus estimate of $604.9 million.

"Overall, we exited the year with solid fourth quarter financial performance despite execution challenges in our commercial direct business," said Tom Werner, SunPower CEO and chairman of the board. "We also achieved a number of important strategic milestones during the quarter. These included the announcement of our proposed Maxeon Solar spin-off and planned equity investment from TZS, initial installations of our residential Equinox Storage system, as well as a successful capital raise and partial convertible bond retirement to further strengthen our balance sheet."

GUIDANCE:

SunPower sees Q1 2020 revenue of $435-470 million, versus the consensus of $450.8 million.

SunPower sees FY2020 revenue of $2.1-2.3 billion, versus the consensus of $2.26 billion.

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

You May Also Be Interested In

• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity
• Kroger (KR) Reports In-Line Q1 EPS, Beats on Revenue; Offers FY27 EPS Guidance
• Amylyx ALS drug shows no serious adverse events in Phase 1 trial