Priceline Group Inc Beats Earnings Estimates, SunEdison Inc Misses

Priceline and SunEdison released the results from their first fiscal quarters before opening bell this morning.

Priceline posted adjusted earnings of $8.12 per share on $1.84 billion in revenue for its first fiscal quarter. Analysts had been expecting earnings of $7.72 per share on $1.8 billion in revenue. In the same quarter last year, the travel website reported earnings of $7.81 per share on $1.64 billion in revenue.

Priceline Group

SunEdison reported losses of 92 cents per share, far worse than the loss of 40 cents per share expected by analysts. Estimates for SunEdison’s earnings vary widely, however, with Zacks estimating losses of 29 cents per share. Net sales were $323 million, compared to revenue of $491.77 million expected by analysts. In the same quarter last year, SunEdison posted adjusted losses of $2.25 per share and net sales of $340 million.

Key metrics from Priceline’s earnings report

Priceline’s net earnings were $6.36 per share, compared to last year’s $6.25 per share. Priceline reported agency revenues of $1.12 billion, which was slightly ahead of the consensus estimate of $1.14 billion. Merchant revenues were $494.675 million for the quarter. Adjusted EBITDA increased 4% from last year to $532 million.

The travel website reported a 12% increase in travel bookings, which beat management’s guidance of an increase of between 2% and 9%. The total value of all travel services purchased through Priceline during the first quarter increased 12% year over year to $13.8 billion.

Priceline gives weak guidance

Priceline came up short on guidance for the second quarter. Management said they expect an increase of 0% to 7% in total gross travel bookings for the quarter. They expect a0% to 7% increase in international gross travel bookings and a 0% to 5% increase in U.S. gross travel bookings.

They’re expecting revenue to increase by between 0% and 7% and gross profits to increase by about 1% to 8%. Priceline expects adjusted EBITDA of between $715 million and $765 million and non-GAAP earnings of between $10.95 and $11.75 per share.

Key metrics from SunEdison’s earnings report

SunEdison’s total losses per share were $1.36, including discontinued operations. The company set a new first quarter record for deliveries at 273 megawatts during the quarter, an increase of 123 megawatts year over year. It was enough to beat the company’s guidance of between 220 megawatts and 250 megawatts.

For the second quarter, SunEdison expects total megawatts of between 300 and 340.

The solar company had backlog additions, net of losses, of 2.9 gigawatts and 2.7 gigawatts of gross pipeline additions. At the end of the quarter, SunEdison had 774 megawatts worth of projects under construction.