SunPower Rises on Forecast It May Return to Profit

SunPower Corp. (SPWR), the second-largest U.S. solar manufacturer, surged to a 21-month high after saying increased revenue from large solar power plants and rooftop systems may produce its first annual profit since 2010.

SunPower climbed 8.5 percent to $20.65, the highest since July 2011, at the close in New York. The shares have more than tripled this year.

Revenue this year will be in the range of $2.6 billion to $2.7 billion, the San Jose, California-based company said today in a statement. That’s higher than the $2.42 billion the company reported last year and the $2.57 billion average of 15 analysts’ estimates for 2013 compiled by Bloomberg. That will yield results ranging from a loss of 5 cents a share to net income of 20 cents.

The company, which hasn’t reported an annual profit since 2010, is expected to lose 28.5 cents a share this year, the average of eight estimates. SunPower is majority-owned by the French oil company Total SA

First Solar Inc. (FSLR) is the largest U.S. solar manufacturer.

To contact the reporter on this story: Christopher Martin in New York at

To contact the editor responsible for this story: Reed Landberg at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.