Energy
SunPower Soaks Up Florida Sun Ahead of Earnings (SPWRA, FPL)
Published:
Last Updated:
Solar PV maker SunPower Corp. (NASDAQ: SPWRA) has won a two-year supply agreement with FPL Group (NYSE: FPL) for solar panels and tracking technology. The contract begins next year. SunPower has also agreed to open a research and development center in Florida “if the state continues its robust solar program.” Interestingly enough, this announcement comes hours before the company reports its earnings.
SunPower will report first quarter 2009 earnings after the market closes today. Analysts are expecting EPS of $0.24 on revenues of $269.05 million. In the fourth quarter of 2008, SunPower posted revenues of $401 million and EPS of $0.35.
SunPower shares are up about 3.5% this morning in pre-market trading, to $28.25. The stock’s 52-week range is $18.50-$107.00.
Paul Ausick
April 23, 2009
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
