SunPower Q3 Results Top Estimates; Stock Up 13%
(RTTNews) - SunPower Corp. (SPWR) announced Tuesday that net income attributable to stockholders for the third quarter was $139.41 million or $0.74 per share, compared to a net loss of $84.38 million or $0.49 per share in the prior-year quarter.
Excluding items, adjusted net income from continuing operations for the quarter was $0.13 per share, compared to $0.12 per share last year.
Total revenue for the quarter soared to $475.71 million from $283.31 million in the same quarter last year. Adjusted revenue was $469.82 million.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share on revenues of $428.0 million for the quarter. Analysts' estimates typically exclude special items.
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SunPower CEO Peter Faricy Departs
SunPower Corp. (SPWR), a residential solar technology and energy services provider,?announced Tuesday that Chief Executive Officer Peter Faricy has departed the Company, effective February 26, 2024. The Board is conducting a comprehensive search process to identify a permanent CEO.
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SunPower Says Q2 Preliminary Revenue Down 11% To $464 Mln
While providing preliminary unaudited financial results for the second quarter on Wednesday, SunPower Corp. (SPWR) reported a net loss of $30 million on revenues of $464 million, up 11 percent year-over-year. Customer growth was of 20,400 new customers.
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SunPower Q1 Adj. Loss Misses Estimates
SunPower Corp. (SPWR) announced Tuesday that net loss attributable to stockholders for the first quarter was $50.68 million or $0.29 per share, wider than net loss of $27.87 million or $0.16 per share in the prior-year quarter.
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Sensex, Nifty Subdued On Trump's Tariff Threats
Indian shares were subdued on Friday after U.S. President Donald Trump reiterated his firm stance on tariffs.
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Asian Markets Trade Mixed
Asian stock markets are trading mixed on Friday, following the positive cues from Wall Street overnight, on hopes some major central banks, including the US Fed will lower interest rates in the first quarter after US President Donald Trump said he will "demand that interest rates drop immediately" in the US to stimulate domestic growth. Asian markets ended mixed on Thursday.
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Australian Market Maintains Gains In Mid-market
The Australian stock market is maintaining its early gains in mid-market trading on Friday, reversing the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in financial and technology stocks partially offset by weakness in mining and energy stocks.
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Sensex, Nifty Likely To Follow Global Peers Higher
Indian shares may open on a positive note Friday, tracking firm cues from global markets.
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Renewed Support Anticipated For Thai Stock Market
The Thai stock market on Thursday ended the two-day winning streak in which it had improved more than 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just beneath the 1,345-point plateau although it figures to rebound on Friday.
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