“After updating our model to include: (1) higher ASPs (inline w/ YGE’s guidance),(2) higher shipments (above YGE’s guidance), & (3) lower poly-Si sourcing costs (which implies YGE works thru the majority of its excess poly-Si inventory), we are still below the Street for C3Q09; given our analysis suggests consensus is … Read the rest
There wasn’t going to be too much of a surprise in the Energy Conversion Devices (ENER) earnings report. The company has been struggling for a few quarters and that was going to continue. The company posted a record loss of .34/share on revenues of just $42.9 million. The revenue number missed analyst estimates of $56.4 million by a wide margin and represents a more than 60% plunge over the year ago quarter.
Applied Materials (AMAT) has acquired privately held Advent Solar today in an effort to decrease manufacturing costs of solar panels. Advent Solar’s technology helps to streamline the assembly operation which Applied Materials says will help the company produce solar panels at below $1/watt within the next three years. No word on the financials of the deal. … Read the rest
The first solar IPO in about a year began trading this morning below the expected range of $11 – 13/share around $10/share. Certainly not a hugely successful IPO, but holding in there at a time when solar stocks are generally struggling.
STR Holdings (STRI) makes components called solar power module encapsulants that protect the circuits in the solar panel. The company is profitable and counts some big players as customers (First Solar, Sunpower, BP Solar). … Read the rest
First Solar just announced that it has purchased a planned 115 MW solar energy project, the Carrizo Energy Solar Farm, from Ausra. According to the New York Times, First Solar doesn’t plan to build the project, but instead will use the land to change the layout of its nearby Topaz project, making it more wildlife friendly and increasing the chances that it will be approved.
The financial terms of the deal were not disclosed, but … Read the rest
“We are upgrading SunPower to Buy based upon earnings power (valuation), anticipated industry growth, and SunPower’s market position. We were disappointed with the company’s 3Q09 margin performance, and while we believe margin improvement can come as factory utilization climbs in 4Q09 and through 2010, we have chosen … Read the rest
There are certainly some things to like about Evergreen Solar (ESLR) and some things.. eh not so much. The earnings results reveal it yet again. This is a company that continues to see revenues surging faster than any other solar company, but they just can’t turn a profit. While margins improved this quarter, they just can’t get the costs down to get profitable.
Taking out the $70 million write down from the Sovello joint venture, … Read the rest
While Akeena Solar (AKNS) continues to struggle in the residential solar industry (posted another loss this quarter), Real Goods Solar (RSOL) is back in the black after a nearly two year hiatus. You have to go back to the 2007 4th quarter to find the last profitable quarter and they did it again this quarter. The company posted $200K in profit (.01/share) on revenues of $23 million. Both beat Wall St estimates of a .01/share … Read the rest
Suntech just announced the closure of a 115 MW deal with EnXco, a unit of EDF Energies Nouvelles. The solar modules will be delivered next year 2010), and the partnership may be expanded in the future.
EnXco is expected to use the modules in installations in the US and Canada. In a press release SunTech’s chief strategic officer Steven Chan explained that “continuously leading solar innovations and delivering the most cost effective solutions are key … Read the rest
Yesterday, both Kaufman Bros and FBR Capital issued negative reports on First Solar (FSLR), but the stock didn’t budge as it held above the $120 level. That kind of resilience typically sets up at least some short term strength which is why I have initiated a swing trade around the $123 level. My stop point is just below the $120 level.