SunPower Second Quarter Earnings Sneak Peek

SunPower Corporation (NASDAQ:SPWRA) will unveil its latest earnings on Tuesday, August 9, 2011. SunPower Corp. 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 a loss of 33 cents per share, a wider loss from the year earlier quarter net loss of 6 cents. During the past three months, the average estimate has moved down from 19 cents. Between one and three months ago, the average estimate moved down and dropped from a loss of 15 cents during the last month. For the year, analysts are projecting profit of 38 cents per share, a decline of 73% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported net income of one cent per share versus a mean estimate of profit of 6 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by 45 cents.

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Wall St. Revenue Expectations: On average, analysts predict $583.1 million in revenue this quarter, a rise of 51.7% from the year ago quarter. Analysts are forecasting total revenue of $2.75 billion for the year, a rise of 23.9% from last year’s revenue of $2.22 billion.

Analyst Ratings: Analysts seem relatively indifferent about SunPower with 15 of 29 analysts surveyed maintaining a hold rating.

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 37.2%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 71.5% from the year earlier quarter.

SunPower’s loss in the latest quarter follows profits in the previous two quarters. The company reported a loss of $2.1 million in the first quarter and a profit of $152.3 million in the fourth quarter of the last fiscal year and profit of $20.1 million in the third quarter of the last fiscal year.

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 May 9, 2011 to August 3, 2011, the stock price had fallen $2.99 (-13.9%) from $21.48 to $18.49. 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 November 15, 2010 and November 23, 2010 when shares fell for seven-straight days, falling 14.5% (-$2.05) over that span. Shares are up $5.66 (+44.1%) year to date.

(Source: Xignite Financials)

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