Items Tagged With Alternative Energy

As I pointed out in the note on Canadian Solar (CSIQ), U.S. listed photovoltaic (PV) companies based in China are experiencing a significant sell-off after the Shanghai Composite index tumbled 9% on February 27. I feel that the drop in China-based solar stocks has been exaggerated, creating some buying opportunities. The fate of China-based PV companies is not directly tied to the economic future of China, given that the bulk of their sales come from Europe and the U.S.

On April 26 SunPower (SPWR - Last trade $59.55) reported knockout Q1 results. This was the first quarter that SPWR reported results consolidated with PowerLight following its January 10th acquisition. The company reported EPS of $0.29/share, blowing away the street's estimate of $0.19/share (a lower tax rate allowed for EPS upside to the quarter). Non-GAAP revenues for the quarter were $143.2 million, also beating estimates at $127.7 million. SPWR also guided Q2 and FY07 ahead of street estimates, and the share price has moved from an April 26 low of $57.02 to a high of $59.55 on April 27.