SunPower Corporation (SPWR) Wednesday provided guidance for the second quarter and full-year. On an adjusted basis the company sees a profit for the full-year while analysts are expecting a loss.
For the second quarter the firm sees revenue of $540 million to $590 million and net loss per share of $0.25 to $0.15 and, on an adjusted basis, revenue of $550 to $600 million and net income per share of $0.05 to $0.15.
Fifteen analysts polled by Thomson Reuters are currently looking for loss per share of $0.02 for the second quarter on revenue of $513.31 million. Analysts estimates typically exclude one-time items.
For the full-year, the company sees revenue of $2.6 billion to $2.7 billion and a loss per share of $0.05 to earnings per share of $0.20. On an adjusted basis the firm expects revenue of $2.5 billion to $2.6 billion and net income per share of $0.60 to $0.80.
The company further said it remains committed to reducing its operational expenses by 10 percent compared with last year and expects to generate free cash flow, including lease financings, in the range of $100 million to $200 million while continuing to invest in its technology roadmap and manufacturing cost reduction initiatives.
The Street is currently looking for full-year earnings per share of $0.64 on revenue of $2.55 billion.
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