8point3 Energy Profit In Line, Guidance Weak; Stock Down 6%

(RTTNews) - 8point3 Energy Partners LP (CAFD) on Wednesday reported third-quarter net earnings of $1.3 million compared with a loss of $2.8 million last year.

Subsequent to its IPO, the company reported third-quarter earnings of $1.3 million or $0.05 per share.

Revenues for the quarter were $3.1 million compared with $2.3 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.05 per share on revenues of $6.2 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects earnings of $2.9 million to $3.1 million on revenues of $4.9 to $5.1 million.

Analysts expect earnings of $0.05 per share on revenues of $6.2 million for the quarter.

8point3 Energy was formed by First Solar Inc. (FSLR) and SunPower Corp. (SPWR) to own and operate a portfolio of selected solar energy generation assets. The company made its debut on the Nasdaq in June.