The headlines for Canadian Solar’s (CSIQ) earnings report today focused on the big quarter over quarter growth, but the real story today was the fact the company missed analyst estimates by a wide margin on the EPS side, posting .16/share vs the estimate for .28/share. Revenues came in higher than expectations at $482 million. No doubt a strong quarter over the year ago quarter, but not what analysts were looking for which is why … Read the rest
Category Archives: Solar Energy
Top Exec Meyerhoff Leaves First Solar (FSLR), Goldman & Auriga Slightly Less Bullish
Tough day for First Solar (FSLR). News hit last night that former CFO and current utilities head Jens Meyerhoff is leaving the company at the end of September and the company was downgraded twice. Shares closed below the key $100 level today.
"Over the past five and a half years I had the privilege to be part of building the leading franchise in the PV solar industry. I am very proud of what we have … Read the rest
As Expected, Evergreen Solar (ESLR) Files For Bankruptcy
I first mentioned in a post in Feb 2010 that Evergreen Solar (ESLR) better cut costs in a hurry or it would be bankrupt within a year. The company managed to hang on a bit longer than that, but today it’s official. The company has declared bankruptcy as their shift to manufacture in China was too little too late. The entire solar sector has taken a hit in recent months and that was the final … Read the rest
First Solar (FSLR) Sees Green On Desert Sunlight Approval, Jefferies Upgrade
Despite more carnage in the overall market today, shares of First Solar (FSLR) managed to find its way into the green column, aided by news that Interior Secretary Ken Salazar approved the 550MW Desert Sunlight solar farm which would be the largest solar plant ever constructed on public land. First Solar said the approval is a major milestone and clears the way for construction to begin this month just east of Palm Springs. The plant … Read the rest
Satcon Technology (SATC) Pressured On EPS Miss, Weak Guidance
Another solar company earnings report and the song remains the same. EPS hit with soft guidance due to European subsidy cuts. Satcon Technology (SATC) is issuing an earnings report right along the lines of other solar companies with revenues about inline with estimates at $46 million, but a with significant miss on the EPS side posting a loss of .18/share vs the estimate for a .12/share loss.
Renesola (SOL) Misses Big On EPS Due To Plummeting Wafer & Module Pricing, Issues Poor Guidance
Is the worst for solar stocks over? It’s still too early to make a definitive statement but when you see stocks rising in the face of bad news then you know traders are looking for excuses to buy rather than sell. That’s one indication a bottom is near. Perhaps that’s the case for shares of ReneSola (SOL) which reported Q2 results this morning.
===> Click Here For Your FREE Renesola Analysis
While the company beat … Read the rest
Sunpower (SPWRA) Reports Mixed Results, But Expects 2nd Half Improvement
Expectations were low going into Sunpower (SPWRA) earnings after the bell today and traders got about what they expected. The company reported mixed results missing on the EPS side reporting a bit wider loss of .19/share vs expectations for a loss of .18/share on revenues of $592 million, vs the expectation for $583 million. Despite a 54% jump in revenues over the year ago quarter, the company reported a healthy loss. CEO Tom Werner blamed … Read the rest
MEMC Electronic Materials (WFR) Recovering From Historic Lows On Insider Buying
You get the feeling that shares of MEMC Electronic Materials (WFR) are beginning to offer a tremendous opportunity for those that have a longer holding time frame. A few insiders certainly do, including the CEO and CFO. With shares of WFR at nearly 10 year lows, both have done some buying giving the stock a boost today of about 15%. The purchases were actually made on August 5th, but the news is providing the catalyst … Read the rest
Profits Remain Elusive For Powersecure (POWR) As Stock Sinks To New Lows
PowerSecure International (POWR) continues to have a rough go of it, dropping another 10% today after the company missed analyst estimates on the EPS side. Considering analysts were expecting a profit of .04, so it’s no wonder the stock continues to drop further below key support of the $6 level. The company posted decent revenue, but a dip in margins eroded the EPS.
Here are some highlights of comments made by CEO Sidney Hinton.
– … Read the rest
STR Holdings (STRI) Reports About Inline, But Guides Way Below
Another tough day for STR Holdings (STRI) with a big gap down to approach all time lows after the company reported results that were about inline, but guided way below analyst estimates for this quarter and the full year. The company reported an EPS of .30/share on revenues of $102 million vs the analyst estimate of .31/share on revenues of $98 million. As is the case with all solar companies, the CEO is blaming … Read the rest