The solar cell maker reported earnings of 49 cents a share for the first quarter, beating analysts' estimates of 32 cents a share by 17 cents. Revenue increased 19% year-over-year to $683.7 million. Analysts surveyed by Thomson Reuters expected revenue of $669.37 million.
In its guidance for the second quarter SunPower said it expects earnings of between 15 cents and 35 cents and revenue of $575 million to $625 million in the upcoming quarter. Analysts expect earnings of 30 cents a share and revenue of 628.3 million.
Looking to the full-year 2014 SunPower expects earnings of $1.10 to $1.40 a share and revenue of $2.5 billion to $2.65 billion. Analysts expect earnings of $1.21 a share and $2.55 billion in revenue for the year.
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TheStreet Ratings team rates SUNPOWER CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUNPOWER CORP (SPWR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."