ReneSola (SOL) posted a record quarter and beat analyst estimates in the process, posting a Q2 EPS of $0.42, 2 cents better than the analyst estimate of $0.40. Revenue for the quarter was 253.9 million, vs the estimate of $246.17 million. That’s a tripling of revenue over the year ago quarter, so mighty impressive results.
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CEO Xianshou Li commented: “We achieved record results in terms of … Read the rest
China Sunergy (CSUN) reported results this morning and while they missed slightly on the revenue number posting $117 million, they smashed EPS estimates with a profit surge of .33/share. That was nearly double the analyst estimate of .18/share and a new record for the company. It’s also more than double the EPS of last quarter and more than 10x the EPS from the year ago quarter.
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Suntech Power (STP) is out this morning reporting preliminary results and the company is warning of a big quarterly loss due to the end of its thin film operations and a bad investment Shunda Holdings. The company is expected to report revenues in the range of $620 – $630 million which is above the analyst estimate of $585 million, but traders are likely to focus on that big quarterly loss, at least in the short … Read the rest
Real Goods Solar (RSOL) reported another solid quarter and continues to separate itself as the top publicly traded residential solar installer. Akeena Solar (WEST) hasn’t put up much of a fight. Real Goods beat the analyst estimate on the EPS side, but missed revenue estimates posting an EPS of .02/share on revenues of $17.5 million vs the estimate of zero profit on revenue of $18.45 million. Despite the miss on revenues, the company still managed … Read the rest
GT Solar (SOLR) has turned in an outstanding quarter, smashing analyst estimates in the process. The company reported an EPS of .11/share on revenues of $135 million. That was more than double the analyst estimates for both the EPS and revenue number. While the sequential growth isn’t there, quarter over quarter EPS growth comes in at 120% while revenue growth comes in at 88%.
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CEO … Read the rest
Several analyst rating changes to tell you about this morning. Hat tip to Street Insider for the analyst commentary.
Needham & Company reiterated a Buy on Echelon Corp (ELON), but lowered the price target from $11 to $10.
“While uncertainty remains on the pace of uptake at utilities exploring AMI solutions as well as at current customers such as Duke, we continue to believe that Echelon has a solid technology offering that not only addresses … Read the rest
SunPower (SPWRA) has announced it has put the finishing touches on what is the first solar tracking system in Australia. The 505kW installation for government owned Horizon Power provides power to remote and regional area in Western Australia. The solar system uses SunPower ground mounted solar tracking technology increasing efficiency by following the movement of the sun. The hybrid solar-diesel power stations will produce up to 90% of the daily electricity needs.
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STR Holdings (STRI) is dealing with growing pains and on the move. The company announced it will spend about $19 million to expand US manufacturing capacity to 3GW and relocate the majority of its US manufacturing operations to a 275K sq ft plant in East Windsor, CT which will also include project management, sales and R&D teams. The company will end operations in Enfield and Somers, CT as it makes the move this year and … Read the rest
A couple more firms have come out with notes on Itron (ITRI) after it was rumored that Siliver Springs Networks will win the BG&E deal, not Itron. Hat tip to Street Insider for the analyst comments.
Wedbush is downgrading Itron from Outperform to Neutral and is also cutting the price target from $85 to $62. “The loss of BG&E to SSN suggests continued headwinds for Itron’s backlog growth, lowers Itron’s general credibility with existing … Read the rest
GT Solar (SOLR) has received a $23.4 million follow-on order from South Korea-based polysilicon producer OCI Company, Ltd. for its newest SDR(TM) 400 CVD reactors and other equipment to support OCI’s polysilicon plant expansion. The SDR 400 are the most energy efficient reactors in the industry.
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“We are pleased by the confidence OCI has demonstrated with our polysilicon production technology,” said Tom Gutierrez, GT Solar’s … Read the rest