$SPWR Trading resumes in SunPower (NASDAQ:SPWR) af
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Posted On: 02/14/2018 8:41:53 PM
$SPWR Trading resumes in SunPower (NASDAQ:SPWR) after a halt, now -10.1% after reporting better than expected Q4 earnings and revenues but guiding Q1 and full-year revenues well below expectations, citing the 201 solar tariff decision.
SPWR forecasts Q1 non-GAAP revenues of $300M-$350M vs. $427M analyst consensus estimate, with 275-305 MW deployed; for FY 2018, SPWR sees non-GAAP revenues of $1.8B-$2.2B vs. $2.41B consensus, with 1.5-1.9 GW deployed.
"We are already seeing a negative near-term impact from the [201 solar tariff] ruling as the increased costs due to import tariffs have delayed certain 2018 projects and made other projects uneconomical," SPWR says. "We have also put our planned $20M U.S. employment expansion on hold and are considering other significant cost saving initiatives to lower our overall expense structure and improve our financial performance."
SPWR forecasts Q1 non-GAAP revenues of $300M-$350M vs. $427M analyst consensus estimate, with 275-305 MW deployed; for FY 2018, SPWR sees non-GAAP revenues of $1.8B-$2.2B vs. $2.41B consensus, with 1.5-1.9 GW deployed.
"We are already seeing a negative near-term impact from the [201 solar tariff] ruling as the increased costs due to import tariffs have delayed certain 2018 projects and made other projects uneconomical," SPWR says. "We have also put our planned $20M U.S. employment expansion on hold and are considering other significant cost saving initiatives to lower our overall expense structure and improve our financial performance."
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