SunPower (SPWR) Tops Q3 EPS by 30c; Will Implement Corp. Restructuring
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
SunPower (NASDAQ: SPWR) reported Q3 EPS of $0.68, $0.30 better than the analyst estimate of $0.38. Revenue for the quarter came in at $729.3 million versus the consensus estimate of $777.94 million.
The company will implement the following initiatives:
- Reduce capacity to lower inventory, improve cash flow and match to profitable demand
- Cost reduction programs that are expected to improve margins and reduce 2017 annual operating expenses to approximately $350 million
- Target 2017 capital expenditures of approximately $100 million, a reduction of more than 50 percent compared to 2016
- Initiatives to improve liquidity with the goal of generating positive cash flow from operations through the end of 2017 and exiting the year with approximately $300 million in cash
SunPower sees Q4 2016 revenue of $0.09-1.1 billion, versus the consensus of $1.37 billion.
SunPower sees FY2016 revenue of $2.43-2.63 billion, versus the consensus of $2.99 billion.
For earnings history and earnings-related data on SunPower (SPWR) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coupa Software (COUP) Tops Q3 EPS Views; Issues Confident Q4 Outlook
- Johnson Controls (JCI) Offers FY17 Outlook; Provides Expectations for 2020
- MeetMe (MEET) Announces Strong CPM Data for November 2016; Reaffirms Q4, FY16 Outlook
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Guidance
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!