Solar Stocks Slump as Market Still Face Hurdles, Guidance Draws Concern (TAN) (LDK) (SPWRA)
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Amid a mixed outlook from SunPower (Nasdaq: SPWRA), tepid guidance from LDK Solar (NYSE: LDK) and despite Intersolar Europe kicking off in Munich Wednesday, stocks in the solar sector are being sold this morning.
After the market close Tuesday, SunPower said it expects to report a second-quarter loss of 5 cents to a gain of 10 cents per share on sales of $550 to $600 million. The Street is currently looking for EPS of 28 cents on revenue of $541.98 million. SunPower previously had revenue guidance in a range of $500 to $550 million.
For its full-year 2011, SunPower issued similarly mixed guidance: EPS of $1.20 to $170 on sales of $2.80 to $2.95 billion, versus the Street consensus of $1.79 and $2.69 billion, respectively.
LDK Solar, with its mixed first-quarter earnings report, also offered second-quarter revenue guidance of 710 - $760 million, shy of the $771.7 million sought by the Street.
At Intersolar Europe, topics to be discussed include California's PV market, the future of PV in Germany, thin film advancements, and global markets, among other items.
Germany still plans on subsidies for solar installations, but the amount will be reduced yearly and depends on the amount of generation capacity added. The country, the largest supporter of solar power in the world, still derives 23 percent of its energy from nuclear plants, which is plans to move away from following the Fukushima disaster in Japan.
On the litany of data points Wednesday, the Claymore/MAC Global Solar Index (NYSE: TAN) is down better than 3 percent.
After the market close Tuesday, SunPower said it expects to report a second-quarter loss of 5 cents to a gain of 10 cents per share on sales of $550 to $600 million. The Street is currently looking for EPS of 28 cents on revenue of $541.98 million. SunPower previously had revenue guidance in a range of $500 to $550 million.
For its full-year 2011, SunPower issued similarly mixed guidance: EPS of $1.20 to $170 on sales of $2.80 to $2.95 billion, versus the Street consensus of $1.79 and $2.69 billion, respectively.
LDK Solar, with its mixed first-quarter earnings report, also offered second-quarter revenue guidance of 710 - $760 million, shy of the $771.7 million sought by the Street.
At Intersolar Europe, topics to be discussed include California's PV market, the future of PV in Germany, thin film advancements, and global markets, among other items.
Germany still plans on subsidies for solar installations, but the amount will be reduced yearly and depends on the amount of generation capacity added. The country, the largest supporter of solar power in the world, still derives 23 percent of its energy from nuclear plants, which is plans to move away from following the Fukushima disaster in Japan.
On the litany of data points Wednesday, the Claymore/MAC Global Solar Index (NYSE: TAN) is down better than 3 percent.
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