STR Holdings, Inc. (NYSE:STRI) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
STR Holdings, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.09 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Decreased 68.95% to $7.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: STR Holdings, Inc. reported adjusted EPS loss of $0.09 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $10.4 million.
Quoting Management: “Despite continued headwinds, we have begun production-scale shipments of our next-gen EVA-based encapsulants to three new customers in China. These prominent solar manufacturers have in excess of 1 GW of capacity each and represent important relationships leading up to the launch of our factory in Suzhou later this year,” said Robert S. Yorgensen, STR’s President and Chief Executive Officer. “We are still early in our relationships and may experience further delays in ramping into their production.”
Key Stats (on next page)…