SunPower Corp Third Quarter Earnings on Deck

SunPower Corporation (NASDAQ:SPWRA) will unveil its latest earnings on Thursday, November 3, 2011. SunPower is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies.

SunPower Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 6 cents per share, a swing from profit of 11 cents in the year earlier quarter. During the past three months, the average estimate has moved down from 4 cents. Between one and three months ago, the average estimate moved down. It also has dropped from a loss of 5 cents during the last month. For the year, analysts are projecting net income of 38 cents per share, a decline of 73% from last year.

Last quarter, the company came in at a loss of 32 cents per share against a mean estimate of net loss of 33 cents per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by 5 cents.

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Wall St. Revenue Expectations: On average, analysts predict $713.8 million in revenue this quarter, a rise of 29.6% from the year ago quarter. Analysts are forecasting total revenue of $2.79 billion for the year, a rise of 25.7% from last year’s revenue of $2.22 billion.

Analyst Ratings: Analysts seem relatively indifferent about SunPower with 14 of 25 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, the company’s loss widened to a loss of a $147.9 million ($1.51 a share) from a loss of $6.2 million (7 cents) a year earlier, but beat analyst expectations. Revenue rose 54.1% to $592.3 million from $384.2 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 43.4%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 71.5% from the year earlier quarter.

Competitors to Watch: First Solar, Inc. (NASDAQ:FSLR), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE), Evergreen Solar, Inc. (NASDAQ:ESLR), JA Solar Hldgs. Co., Ltd. (NASDAQ:JASO), Trina Solar Limited (NYSE:TSL), Energy Conversion Devices, Inc. (NASDAQ:ENER), Hoku Corporation (NASDAQ:HOKU), Canadian Solar Inc. (NASDAQ:CSIQ), and MEMC Electronic Materials, Inc. (NYSE:WFR).

Stock Price Performance: During August 4, 2011 to October 28, 2011, the stock price had fallen $6.78 (-39.1%) from $17.36 to $10.58. The stock price saw one of its best stretches over the last year between March 25, 2011 and April 5, 2011 when shares rose for eight-straight days, rising 6.7% (+$1.10) over that span. It saw one of its worst periods between September 13, 2011 and September 22, 2011 when shares fell for eight-straight days, falling 27.4% (-$3.42) over that span. Shares are down $2.25 (-17.5%) year to date.

(Source: Xignite Financials)

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