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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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Bay Street Likely To Open On Mixed Note
Canadian stocks may open on a mixed note on Wednesday, tracking commodity prices and quarterly earnings announcements. The mood is likely to remain cautious amid tariff concerns, and uncertainty about the outlook for interest rate cuts next week.
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Bank Indonesia Unexpectedly Holds Rate Steady At 4.75%
Indonesia's central bank unexpectedly kept its key interest rate unchanged on Wednesday after three consecutive reductions as policymakers assess the impact of the previous easing. The Bank Indonesia board, led by Governor Perry Warjiyo, decided to hold the BI rate at 4.75 percent. The bank was expected to cut the rate by 25 basis points.
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FTSE 100 Rises Nearly 1% On Soft Inflation Data
The U.K. market is up in positive territory on Wednesday, outperforming other major markets in Europe, thanks to softer-than-expected consumer price inflation data.
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CAC 40 Pares Some Early Losses; L'Oreal Down Sharply As Sales Miss Expectations
French stocks are showing weakness on Wednesday, turning down south from the record highs climbed in the previous session. Slightly disappointing earnings announcements from luxury majors weigh on the market.
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UK Consumer Prices Rise Less Than Forecast
UK consumer prices rose less than expected and food inflation eased for the first time in six months in September, raising hopes that the Bank of England could reduce interest rates this year. Consumer prices logged an annual growth of 3.8 percent in September, the same rate of increase as seen in August, the Office for National Statistics said Wednesday. Prices were expected to climb at a faster
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