SunPower Monsters 4th Quarter & Full Year 2015
The second-largest US solar equipment manufacturer, SunPower, has monstered its 4th quarter and full-year financials, with increases across the board.
SunPower released its 4th quarter and fiscal year 2015 results on Wednesday, and it was good news — reflected in the company’s share prices, which jumped an impressive 12% on the back of the news. SunPower took in revenue of $1.36 billion and had earnings per share (EPS) of $1.73. This compared favorably to consensus estimates from Thomson Reuters which had called for EPS of $1.53 and $1.27 billion in revenue. SunPower not only beat estimates, however, but also figures from the same quarter last year — revenue of $609.7 million and EPS of $0.26.
“2015 was a transformational year for the solar industry as increasing demand, favorable policy developments and broad global support for renewables created strong industry growth fundamentals,” said Tom Werner, SunPower president and CEO. “SunPower benefited from these trends as we exceeded our forecasts and closed out the year with record fourth quarter and full year non-GAAP 2015 results.”
Full-year revenue for 2015 was down slightly from the previous year, reaching $2.612 billion compared to $2.618 billion, though EPS was up, sitting at $2.17 compared to 2014’s $1.33.
SunPower does not appear to have published the amount of MW deployed in 2015, though the company did make note of several projects it deemed of particular attention — including the 135 MW Quinto project, which achieved commercial operation during the fourth quarter, and the 50 MW Hooper project for Xcel, which was completed a quarter ahead of schedule. SunPower also commenced construction on several projects in the fourth quarter, including the 100 MW project for NV Energy in Nevada.
Guidance for the fiscal year 2016 sees revenue in the range of $3.2 billion to $3.4 billion, and deployment of between 1.7 GW and 2 GW. The first quarter is expected to see revenue in the range of $290 million to $340 million, and deployment of between 315 MW and 340 MW.
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