EnerNOC (ENOC) beat low expectations after the bell today, but the company swung back to a big quarterly loss by posting a .50/share loss (analysts expected a .65/share loss). Revenues were a bit better than expected and higher than the year ago quarter, but a fraction of last quarter’s huge revenue surge at just $26.7 million. Given the run this stock has had, an earnings beat just isn’t gonna cut it and the stock … Read the rest
All posts by Tate Dwinnell
Westport Innovations (WPRT) Continues To Move Toward Profitability, Excited About Volvo Partnership
Westport Innovations (WPRT), which develops natural gas engines, reported a decent quarter after the bell today with results slightly ahead of analyst estimates. The company has never had a profitable quarter but continues to move closer to that goal and is expecting its first profitable year in 2011. The company reported a loss of $7.3 million or .21/share on revenues of $38.4 million.
The CEO commented on its relationship with Volvo, saying, “This was a … Read the rest
Time For Akeena Solar (AKNS) To Deliver, Still No Sign Of Profitability
As expected, Akeena Solar (AKNS) delivered another quarterly loss this morning posting a .10/share loss on revenues of $7 million. They missed analyst estimates on both. After many quarters of losses and stagnant revenues, it’s time for the company to deliver and maybe that begins next quarter. CEOs always put a positive spin on the company and hype up all the deals they have and increasing distribution partners.
CEO Barry Cinnamon is no exception, discussing … Read the rest
SunPower (SPWRA) To Acquire SunRay
SunPower just announced that it has signed an agreement to acquire SunRay Renewable Energy from its shareholders. SunRay is a leading European solar power plant developer with a project pipeline of more than 1,200 megawatts (MW) in different stages of development.
In a press release, Howard Wenger, president of SunPower’s utilities and power plants business group, commented on the purchase:
“SunRay has a proven track record of developing bankable solar power plants in a complex … Read the rest
ReneSola (SOL) Announces 3 Yr, 600MW Solar Supply Deal, Shares Surge 10%
ReneSola (SOL) is announcing a big solar order this morning. Details are limited, but the company has received a 600MW OEM deal to supply solar modules over the next 3 years to a major global solar company. Shipments will be spread evenly at 200MW per year.
CEO Li Xianshou commented: “Our first major solar module OEM contract reflects the exceptional value inherent in our cost-competitive solar wafer and solar module OEM manufacturing platform. Our customers … Read the rest
JA Solar (JASO) Posts Strong Quarter On Record Shipments, Raises Guidance
The China solar stocks could use some good news after being pummeled in the past month and JA Solar (JASO) is providing it with its earnings results this morning. The company recorded record shipments in the quarter, improved margins, beat the Wall St estimates and raised guidance. All in all, a well executed quarter from JASO indicating the company is not only a survivor but a company that could be a leader. They really … Read the rest
Piper Jaffray Downgrades Echelon (ELON) As Profitability Now Uncertain
You knew the downgrades were coming on Echelon (ELON) after yesterday’s very weak guidance and Piper Jaffray is one. The firm is downgrading the stock to Neutral and lowering the price target to $8 from $11. Hat tip to Street Insider for the following analyst comment:
“We downgrade shares of ELON to Underweight following disappointing 2010 guidance, continued lack of revenue visibility, and pushout of profitability. ELON beat on the top and bottom line with … Read the rest
Piper Jaffray Previews JA Solar (JASO) Earnings: Buy Ahead Of Earnings
JA Solar (JASO) will report ahead of the bell tomorrow morning and Piper Jaffray has a preview (courtesy of Street Insider) of earnings which could provide some insight into how well the other China solar companies will do this quarter.
Jesse Pichel of Piper Jaffray recommends traders own JASO shares ahead of earnings. It’s a little late now! They highlight the positives..
– JA Solar has low Euro exposure compared with its Chinese peers. … Read the rest
Echelon (ELON) Beats, But Slammed AH On Poor Guidance
Echelon (ELON) came close to posting its first profitable quarter in about five years and beat Wall St estimates by a good margin after the bell today, but the stock continues to get battered after hours after the company guided much lower for next quarter. The company reported a non GAAP EPS of zero while analysts expected a loss of .17/share. Revenues came in ahead of estimates as well at $38.8 million (vs estimates of … Read the rest
Ormat (ORA) Acquires Geothermal Development In Nevada
Ormat has just announced that its wholly-owned subsidiary, Ormat Nevada Inc, has acquired HSS II LLC. Financial details were not disclosed, but the purchase includes the Hot Sulphur Springs Geothermal Project in NE Nevada. The project is almost fully developed and has a successful well. Nevada Power Company has signed a 20 year power purchase agreement to buy the power that the Hot Sulphur Springs Geothermal Project produces once it is complete.
In a , … Read the rest