STR Holdings (STRI) Beats, Raises Guidance

STR Holdings (STRI) reported strong results after the bell today beating analyst estimates in the process.  The company reported a Q2 EPS of $0.44, 10 cents better than the analyst estimate of $0.34 on revenue of $96.7 million, vs the estimate of $91 million.  That’s a more than tripling of profits over the year ago quarter and a 62% surge in revenues.  Those numbers may have the stock back at all time highs tomorrow.  STRI was trading at all time highs earlier today, before giving up much of the gain.

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CEO Dennis Jilot commented on the solar segment of the biz: “Solar’s global sales and earnings growth continued to be robust in the second quarter.  This quarter’s performance benefited from strong growth across all geographies. Our near-term visibility and the current trends in our business give us a high degree of confidence that our full-year results will be stronger than previously anticipated. The increase in our guidance reflects our view that the slowdown in business in the second half of the year resulting from reductions in the feed-in tariffs in Germany and Italy will not be as significant as we previously anticipated.”

The company now sees Q3 EPS at $0.32 – $0.37, vs the $0.29 consensus.  For the full year, they estimate revenue at $352 million vs the analyst estimate of $336 million and EPS at $1.35 – $1.45, vs the estimate of $1.22.

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