It should be another tough day for solar stocks tomorrow. I just posted about the awful results from JA Solar (JASO) and LDK Solar (LDK) is indicating a rough quarter as well and revising guidance much lower ahead of its earnings report on August 29th.
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The company now sees quarterly revenues in the range of $480 – $500 million vs the previous estimate for revenues of … 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
Article courtesy of ForexTraders.com …
The year of 2010 will be remembered for its uncertainty and bouts of risk aversion, but it also ended with a rise in values across the board, signaling a potential economic recovery on a global scale. The major benefactors appeared to be shareholders of portfolios heavy in commodities, as run ups in value there were steep and unsustainable. As 2011 dawned, interest appears to have returned to the green sector, … Read the rest
The solar stocks are getting a nice pop today after LDK Solar (LDK) raised both its revenue and shipments outlooks for Q4 and next year. The company says growth is being driven by lower prices, government incentives and renewable energy requirements across the world, particularly in Asia, the US and Europe.
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The company now expects Q4 revenues of $870 – $910 million vs the previous estimate … Read the rest
The Chinese solar companies continue to report impressive growth and LDK Solar (LDK) is no exception as the company smashed analyst estimates this morning and raised guidance way above expectations. The company reported a non GAAP EPS number of .72/share vs the analyst estimate of just .43/share on revenues of $675 million vs the estimate of $628 million. Those numbers represent quarter over quarter growth of 167% and 140% respectively.
LDK Solar (LDK) has announced it landed a big $300 million, 2 year contract with BYD Company of China for a supply of polysilicon every month to begin in January. A deposit for the shipments has already been received.
"We are very excited to add BYD, a leading high-tech enterprise that has a strong commitment to the green energy sector, as a key customer," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "This agreement … Read the rest
LDK Solar (LDK) is surging higher in pre-market trading and lifting other solar stocks after it raised Q3 guidance. The company now expects revenues to come in at $610 – $640 million vs the previous estimate of $570 – $600 million. They are also raising shipments guidance on modules and wafers. The company expects to ship 550 – 570MW in solar wafers and 80 – 90MW in solar modules which compares with the previous … Read the rest
Auriga’s Mark Bachman was out with a note this morning saying LDK Solar’s (LDK) cash position looks precarious due to Q-Cells repayments and debt obligations and that they may need a fresh infusion of the green stuff soon, likely with an equity offering. They also see a possible sale of another chunk of its poly plant and/or debt restructuring.
They have not rating on LDK currently.
Traders don’t appear to be too concerned with Auriga’s … Read the rest
LDK Solar (LDK) announced this morning that it has filed an objection for arbitration before the China Intl Econ & Trade Arbitration Commission as well as a lawsuit to demand compensation from Canadian Solar (CSIQ) due to a breach of a 10 year supply agreement signed in 2008. Despite the news, shares of CSIQ are up nearly 3% today and trying to push above resistance of the 50 day moving average.
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LDK Solar (LDK) announced that they have been invited by Anhui Provincial Governmen to invest in a solar cell and module facility in Hefei High-Tech Industrial Development Zone to establish a renewable energy manufacturing hub in the Province. The facility will include an annual capacity of 1.0 GW of solar cells and 500 MW of solar modules with production expected to begin Q2 2011. Hefei High-Tech Construction and Investment Group will provide financing of RMB … Read the rest