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Stock Market & Financial Investment News

News Breaks
May 2, 2013
15:46 EDTSPWRSunPower reports Q1 adjusted EPS 22c, consensus 6c
Reports Q1 revenue $635.4M, consensus $507.73M. Reports Q1 adjusted gross margin 22.7%. Produced 208 megawatts in Q1. "As a result of solid execution, we exceeded our financial targets for the quarter while further strengthening our balance sheet," said Chuck Boynton, SunPower CFO. "We also continued to prudently manage our working capital needs as we reduced inventory and generated $216 million in free cash flow during the quarter. With our strong project backlog, continued growth in residential lease and global focus on improving our cost structure, we remain confident in achieving our 2013 financial targets."
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