SunPower: 2Q Earnings Snapshot
Posted Aug 5, 2020 2:52 pm.
Last Updated Aug 5, 2020 3:00 pm.
SAN JOSE, Calif. (AP) _ SunPower Corp. (SPWR) on Wednesday reported second-quarter earnings of $19.4 million.
The San Jose, California-based company said it had profit of 11 cents per share. Losses, adjusted for one-time gains and costs, were 22 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The solar products and services company posted revenue of $352.9 million in the period.
For the current quarter ending in October, SunPower said it expects revenue in the range of $360 million to $400 million. Analysts surveyed by Zacks had expected revenue of $376.5 million.
SunPower shares have risen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.50, a decline of 14% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPWR at https://www.zacks.com/ap/SPWR
The Associated Press
