Benzinga | Oct 28, 2020 04:39PM EDT

SunPower: Q3 Earnings Insights

Shares of SunPower (NASDAQ:SPWR) rose 4.58% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 157.14% over the past year to ($0.04), which beat the estimate of ($0.05).

Revenue of $274,806,000 decreased by 44.11% year over year, which beat the estimate of $235,640,000.

Looking Ahead

SunPower Sees Q4 Sales $330M-$370M vs $350.28M Est.; Raises FY20 Sales Guidance From $1.06B-$1.10B To $1.12B-$1.16B vs $1.39B Est.

Conference Call Details

Date: Oct 28, 2020

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/bugvjpie

Recent Stock Performance

Company's 52-week high was at $19.38

52-week low: $4.03

Price action over last quarter: Up 132.66%

Company Description

SunPower Corp is a vertically integrated solar module manufacturer and systems installer. The company's modules derive from crystalline silicon technology and possess the industry's highest conversion efficiencies (the percentage of sunlight that is converted into electricity). French oil giant Total is now SunPower's majority shareholder. The operatinig business segments of the company are SunPower Energy Services and SunPower Technologies.. The maximum revenue of the company comes from SunPower Energy Services Segment, which includes sales of solar energy solutions in the North America region, and direct sales of turn-key engineering, procurement and construction services.