Trading has now resumed in SunPower (NASDAQ:SPWR) after a halt, is now down double-digits after reporting better than expected Q4 earnings and revenues but guiding Q1 and full-year revenues well below expectations, citing the 201 solar tariff decision.

SPWR forecasts Q1 non-GAAP revenues of $300M-$350M vs. $427M analyst consensus estimate, with 275-305 MW deployed; for FY 2018, SPWR sees non-GAAP revenues of $1.8B-$2.2B vs. $2.41B consensus, with 1.5-1.9 GW deployed.

So what is the major issue? Well, it turns out that the market is baking fears of thw solar tarriffs back into the stock. There is risk here.

“We are already seeing a negative near-term impact from the [201 solar tariff] ruling as the increased costs due to import tariffs have delayed certain 2018 projects and made other projects uneconomical,” SPWR says. “We have also put our planned $20M U.S. employment expansion on hold and are considering other significant cost saving initiatives to lower our overall expense structure and improve our financial performance.”

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