SunPower Corp. Lifts Q4 Forecast, Announces FY15 Outlook - Quick Facts

(RTTNews) - SunPower Corp. (SPWR) Thursday announced its updated outlook for the fourth quarter, according to which the company now sees higher profit per share and revenues for the period. The group also announced its guidance for fiscal 2015. For the fourth quarter, the group now expects earnings per share in a range of $1.00 to $1.25, compared with the previous range of $0.20 to $0.35. Revenues are now projected to be between $1.12 billion and $1.17 billion, while the earlier expectation was $675 million to $725 million. Non-GAAP outlook remains unchanged. The updated guidance reflects the benefit of nearly $450 million in revenue and $0.80 to $0.90 in earnings per share related to the real estate accounting treatment of the company's 579 MW Solar Star projects. Analysts are looking for earnings per share of $0.23, on revenues of $605.04 million. For fiscal year 2015, SunPower expects net income per share in a range of $0.55 to $0.95, on revenues of $2.4 billion to $2.6 billion. On a non-GAAP basis, it expects earnings per share to range between $1.10 and $1.50, on revenues of $2.4 billion to $2.6 billion. This guidance excludes any financial impact that may occur if the group decides to pursue the formation of a separately-traded Yieldco vehicle, which is currently under review. The company said it will update its 2015 guidance if it decides to pursue this strategy. Analysts are estimating profit per share of $1.69, on revenues of $2.80 billion.