Hanwha SolarOne (HSOL) is surging nearly 10% today, but off a nearly two year bottom. Perhaps it’s a buy the news kind of day for HSOL as traders believe the worst is over. However, the downtrend remains firmly in place for now so it’s too soon to jump in.
The company reported mixed results with an EPS of .28/share vs the analyst estimate for .29/share on revenues of $335 million which topped the analyst estimate … Read the rest
GT Solar (SOLR) is having a good morning but off the highs of the day after beating earnings estimates and raising guidance. The company reported an EPS of .41/share on revenues of $272 million vs the analyst estimate for .34/share on revenues of $224 million. That’s good for quarter over quarter increases of 78% and 40% respectively. Looking ahead, the company is raising guidance as well and now expects its full year EPS range at … Read the rest
Along with LDK Solar (LDK), it wasn’t a good day for Yingli Green Energy (YGE) on Friday as the stock plunged with heavy volume after missing earnings estimates. The stock appears headed for a test of the 2010 lows which is the case for many of the China solar stocks.
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The company reported an EPS of .38/share on revenues of $527 million which represents … Read the rest
LDK Solar (LDK) finished last week with a resounding thud and looks like it’s on a fast track to test the 2010 lows. The company reiterated its guidance for Q1 and the full year, but announced it is postponing a bond offering to raise cash. The company will report official earnings results on Tuesday after the bell.
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They are reiterating Q1 revenue guidance of $745 – … Read the rest
Axiom Capital who has long been bearish on First Solar (FSLR) and wrote last week that there was little chance of FSLR getting funding from the DOE for its large solar project is now changing its tune a bit. According to Barron’s the firm now believes, after checks with the DOE, that there are enough funds left for renewable energy projects and FSLR has a good chance of getting funding for its large project, but … Read the rest
Canadian Solar (CSIQ) announced yesterday that they landed a 81MW deal to sell 81MW of solar modules to fast growing Berlin-based solar developer Saferay. The modules have already begun shipping and the entire order will be shipped by the end of Q3.
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Dr. Shawn Qu, Chairman and CEO of Canadian Solar, said, "We are pleased to be partnering with Saferay. We are both fast growing … Read the rest
Sunpower (SPWRA) reported earnings that missed analyst estimates. The company reported an EPS of .15/share on revenues of $451 million vs the analyst estimates for .17 in EPS and $479 in revenues. Although those numbers still represent quarter over quarter EPS and revenue growth of 200% and 30% respectively. The CEO blamed the miss on changing market conditions in Europe which is beginning to be a common theme in the latest round solar earnings reports.… Read the rest
Canadian Solar (CSIQ) posted earnings results tonight that were ahead of analyst estimates on the revenue side ($443 million vs $423 million) as well as the EPS side using the non GAAP number and excluding the forex hit (.44/share vs expectation for .41). Gross margins improved 2% over the year ago quarter (although dropped a few percent sequentially) while shipments increased 32%. It should also be noted that the company continues to decrease exposure to … Read the rest
Yingli Green Energy (YGE) updated its guidance today for Q1, Q2 and the full year. The company is lowering its shipment and gross margins guidance. They now see Q1 shipments coming in lower than the year ago quarter vs the previous guidance of shipments coming in a bit higher than the year ago quarter. Margins are expected to come in around 27% vs the previous guidance of around 30%.
Trina Solar (TSL) updated its previous guidance today, lowering its shipment guidance from the previous guidance of greater than 351MW to 320MW – 322MW due to impacts to module demand and order flow linked to Italy’s solar regulatory revisions. However, the company expects its in house gross margins to increase a bit to 32 – 32.5% from the previous guidance of 30%. The overall gross margins, factoring in outsourcing is expected to dip a … Read the rest