SunPower Earnings: Not So Sunny

SunPower (NASDAQ:SPWR) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5.36%.

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Earnings Cheat Sheet

Results: Net loss increased 74.29% to $144.8 million (+18 cents per diluted share adjusted) in the quarter versus a net loss of $83.08 million in the year-earlier quarter.

Revenue: Rose 20.52% to $679 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: reported adjusted net income of 18 cents per share. By that measure, the company beat the mean analyst estimate of $0.15. It missed the average revenue estimate of $768.27 million.

Quoting Management: “We exited 2012 with strong fourth-quarter results as we benefitted from our diversified downstream channel strategy, solid execution on our cost roadmap and increased customer demand for our high efficiency, industry leading technology,” said Tom Werner, SunPower president and CEO.

Key Stats (on next page)…

Revenue increased 4.63% from $648.95 million in the previous quarter. Net loss increased 198.31% from $48.54 million in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0 and has not changed. For the current year, the average estimate is a profit of $0.15, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)