North Coast Solar Stocks

July 30, 2009

FSLR, ESLR Q2 Diverge; First Solar Up, ESLR Down

Filed under: ESLR, FSLR — Tags: , , , — Jason @ 4:46 pm

Posted by Tiernan Ray

Two prominent solar power technology providers are diverging in after-hours trading this evening, with First Solar (FSLR) rising about $3.70, or 2%, to $177.25, and Evergreen Solar (ESLR) falling 16 cents, or 6.7%, after the two companies reported their respective Q2 results this evening.

First Solar Q2 sales rose 26% from Q1, and almost doubling year over year, yielding earnings per share of $2.11, nearly double the year-earlier profit. That compares to the average $459 million and $1.62 estimate. First Solar plans to discuss its Q3 outlook on its conference call that started at 4:30, which you can catch here.

Evergreen, meanwhile, said Q2 revenue rose about 14% from Q1 and nearly tripled year over year, to $63.8 million, for a net loss of 11 cents per share. The revenue was slightly ahead of estimates of $63.4 million, but the net loss was wider than the 8 cents analysts were looking for.

Evergreen did not offer a forecast.


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