From Investors' Business Daily:
SunEdison Misses Q2 Forecast, Hits Six-Month Low
SunEdison (NYSE:SUNE) stock hit a seven-month low Thursday after the solar panel manufacturer posted a bigger Q2 loss than Wall Street had forecast.
In Q2, SunEdison had revenue of $455 million and per-share losses of 93 cents. Its yieldco, TerraForm (NASDAQ:TERP), accounted for $130 million of that revenue and 10 cents EPS.
Nine analysts polled by Thomson Reuters saw SunEdison on average posting per-share losses of only 55 cents. On the other hand, SunEdison beat analysts' $400 million revenue forecast by 12%.
unEdison's Q2 revenue fell 30% from the year-earlier quarter. In Q2 2014, SunEdison said it had a net loss of 16 cents a share, or a loss of 21 cents a share from continuing operations.
Analysts had estimated TerraForm would post Q2 revenue and EPS of $137 million and 20 cents.
In Q2, SunEdison reported a record 404 megawatts delivered, beating its own guidance of 300 MW to 340 MW. TerraForm received 146 MW from SunEdison in Q2. For Q3, SunEdison guided to 540 MW to 600 MW delivered.$17.30 down $5.57 (24.36%)
SunEdison didn't offer revenue and per-share earnings guidance for Q3 or 2015....MORE
