Evergreen Solar, Inc. (NASDAQ:ESLR) will unveil its latest earnings on Wednesday, March 9, 2011. Evergreen Solar, Inc. develops, manufactures and markets solar power products, including solar cells, panels and systems.
Evergreen Solar, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 55 cents per share, a narrower loss from the year earlier quarter net loss of 78 cents. During the past three months, the average estimate has moved down from a loss of 47 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at a loss of 55 cents during the last month.
Past Earnings Performance: The company enters this earnings report having missed estimates the last four quarters. Last quarter, the company fell short of expectations by 53 cents, reporting a loss of of $1.21 per share against a mean estimate of net loss of 68 cents per share.
Wall St. Revenue Expectations: On average, analysts predict $27.4 million in revenue this quarter, a decline of 67.6% from the year ago quarter. Analysts are forecasting total revenue of $133 million for the year, a decline of 60.7% from last year’s revenue of $338.8 million.
Analyst Ratings: Analysts are bearish on Evergreen Solar as three analysts rate it as a sell, none rate it as a buy and three rate it as a hold.
A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 55% in the first quarter and rose 19.7%in the fourth quarter of the last fiscal year, 11.4% in the third quarter of the last fiscal year and 32.4% in the second quarter of the last fiscal year.
Competitors to Watch: SunPower Corporation (NASDAQ:SPWRA), Energy Conversion Devices, Inc. (NASDAQ:ENER), First Solar, Inc. (NASDAQ:FSLR), LDK Solar Co., Ltd (NYSE:LDK), Trina Solar Limited (NYSE:TSL), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), Hoku Corporation (NASDAQ:HOKU), Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE), DayStar Technologies Inc. (NASDAQ:DSTI), and Ascent Solar Tech., Inc. (NASDAQ:ASTI).
Stock Price Performance: During May 2, 2011 to July 27, 2011, the stock price had fallen $1.04 (-76.5%) from $1.36 to 32 cents. The stock price saw one of its best stretches over the last year between October 7, 2010 and October 13, 2010 when shares rose for five-straight days, rising 60.3% (+$2.46) over that span. It saw one of its worst periods between June 1, 2011 and June 10, 2011 when shares fell for eight-straight days, falling 20.8% (-16 cents) over that span. Shares are down $3.16 (-90.8%) year to date.
(Source: Xignite Financials)