If missing earnings estimates by a huge margin weren’t bad enough, APWR got hit hard again after word spread that Roth Capital had suspended its coverage of A-Power Energy (APWR) due to lack of transparency. Here’s the analyst note courtesy of Notable Calls.
“We believe the company’s lack of transparency has created inherent limitations to our ability to gain adequate insight into the underlying fundamentals to confidently model and value the business. We believe this … Read the rest
A-Power Energy (APWR) is mostly cited as a top wind energy play, but the company continues to announce contracts to develop biofuel plants in China. Last month they announced a $52 million contract with Huaian Huapeng Biomass Electricity and in April announced a $75 million contract with Anhui Wenergy. Today they are announcing yet another contract of $14 million with Sanmenxia New Energy Bio-Electricity to design, construct, install and test a biofuel DG plant … Read the rest
A-Power Energy (APWR) is announcing today that the Shenyang government is planning to invest a total of $44 million in the Shenyang Power Group which is a local industry alliance headed by A-Power (60% owner) to pursue large scale clean energy projects both within and outside of China. As part of the investment, the government will appoint a local Shenyang bank and guaranty company to participate in the alliance.
Details of the plan call for … Read the rest
A-Power Energy (APWR) is trading down this morning after badly missing earnings estimates. The company reported an EPS of just .04/share which was well short of analyst estimates of .12 and a more than 50% drop over the year ago quarter. Revenues were basically flat over the year ago quarter at 31.2%. The CEO is blaming the poor quarter on seasonality and poor weather conditions in Northeast China.. perhaps he needs to take a … Read the rest
A-Power Energy (APWR) is tacking on to yesterday’s gains this morning after it was announced that the company has received a $52 million contract from Huaian Huapeng Biomass Electricity to design, construct and test two 18MW biomass energy facilities in China. The project is expected to be completed and in operation by the end of next year.
Just last month A-Power signed a $75 million contract with Anhui Wenergy to build two 30MW micro grid … Read the rest
A-Power Energy (APWR) has vaulted about 15% in just the past 20 minutes on news it has signed contracts totaling $75 million with subsidiaries of Anhui Wenergy to build micro grid electricity generation systems using biomass as the fuel. APWR will design, assemble, install, test and deliver two 30 MW biomass fueled electricity generation systems which are expected to be completed by Aug 2010.
“We are extremely excited to become the sole provider for Wenergy’s … Read the rest
A-Power Energy (APWR) is once again testing all time lows after taking a 25% hit today on news the company has dramatically lowered 4th quarter guidance from the previous estimate of $158 million in revenue and $15.5 million in profit to $76 million in revenue and just $5 million in profit due to postponed contracts.
Jinxiang Lu, APWR CEO, commented, “Due to the unusual current macro economic conditions, a few of our key potential contracts, … Read the rest
Despite missing the Street’s view, A-Power Energy (APWR) is moving higher after hours. That’s the kind of action that needs to be seen to mark a bottom in these green stocks. It’s an indication that finally the doom and gloom has been fully priced in. The company reported an EPS of .28/share, .04 lower than analyst estimates on revenues of 85.4 million which was also lower than what analysts were expecting. APWR still expects 08 … Read the rest
A-Power Energy (APWR) is skyrocketing this morning after the company reaffirmed earnings guidance on Friday night with plans to conduct a conference call October 15th at 9AM EST.
John Lin, A-Power’s Chief Strategy Officer and Interim Chief Financial Officer, “We want to reaffirm our earnings guidance, while also noting we anticipate our third quarter 2008 financial statement review will be finalized within the next 30 days, when we will schedule our third quarter earnings call.”… Read the rest
A-Power Energy (APWR) announced today that its signed a contract with China National Automation Control System Corp for the sale of five 2.7 MW wind turbines with delivery to occur later this year for use in wind farm projects in the Gansu province and Inner Mongolia Autonomous region. These are the first wind turbines produced at A-Power’s new production facility in Shenyang, China which is designed with annual capacity of 300 of the 2.7MW wind … Read the rest