LDK Solar (LDK) has hit it out of the park today, smashing analyst estimates and guiding way above estimates for next quarter and the full year. The company reported a Q2 EPS of $0.36, 14 cents better than the analyst estimate of $0.22 on revenues of $565.3 million, vs the estimate of $458.40 million. That’s good for jumps of 118% and 148% in EPS and revenue quarter over quarter respectively.
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LDK Solar (LDK) is announcing some solar supply deals of its own this morning. The company will supply 50MW of solar modules to Spain’s Enel with 30MW deliverable this quarter and an option for an additional 20MW next quarter.
“We are very pleased to enter this sales agreement with Enel, a globally recognized power provider and dedicated leader in the production of PV systems,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar. “As demonstrated … Read the rest
LDK Solar just announced that it has signed a supply agreement with ABB SpA, a subsidiary of ABB Group based in Italy. Per the contract, LDK will supply ABB with 13MW worth of its solar modules, with delivery slated for the 3rd quarter of this year. An expanded contract for larger volumes of modules to be delivered this year and next year is currently being negotiated.
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LDK Solar (LDK) announced after the bell today that during their preparation of the 2009 annual report, they determined an additional provision for doubtful recoveries of approximately $12.6 million for its accounts receivable and prepayment to suppliers. The revised financials were based on updated information about its customers repayment ability and its suppliers ability to honor existing contractual terms for delivery of products or refund of amounts paid.
Shares are hanging in there after the … Read the rest
LDK Solar (LDK) announced after the bell today that it has signed a contract to supply solar modules to Spain based Gestamp Asetym Solar. LDK Solar will provide 15.8MW of solar modules to Gestamp during the 3rd quarter.
LDK Solar CEO Xiaofeng Peng commented: “We are very pleased to commence a relationship with Gestamp Solar, a leader in the development of PV projects. As demonstrated by this contract, we continue to experience solid demand for … Read the rest
A few analyst ratings/notes to highlight this morning.
The biggest was the two notch upgrade of LDK Solar (LDK) by Bank of America from Underperform to Buy due to lower risks of oversupply. Following the LDK Solar earnings report, I mentioned that I thought the stock offered a very compelling entry down at these levels and has the potential to double or triple if you’re patient. I still believe that. Shares of LDK gapped … Read the rest
Janney Montgomery Scott upgraded Ener1 (HEV) from Sell to Neutral and has price target of $3.50. “The Company announced that Volvo has selected HEV as the exclusive supplier for its C30 battery-electric vehicle platform…However, we believe that at current levels, HEV’s stock fairly values the Company’s prospects.” Shares of HEV are down 4% today. Click Here For Your FREE Ener1 Analysis
Macquarie upgraded Energy Conversion Devices (ENER) from Underperform to Neutral. Shares recovering again today, … Read the rest
Earnings results from the solar companies continue to be strong and that’s the case for LDK Solar (LDK) after the bell today. I don’t see a non GAAP number and no clear one time charges for this company, so I’ll stick with the GAAP EPS number of .06/share which beat analyst estimates of .01/share. Revenues were strong at $347.6 million vs the analyst estimate of $326. The quarter marks the 3rd straight profitable quarter with … Read the rest
LDK Solar just announced that it has signed a supply agreement with Phoenix Solar. Per the agreement, LDK will provide Phoenix with approximately 20 megawatts of solar modules later this year.
In a press release, Xiaofeng Peng, Chairman and CEO of LDK Solar, commented on the news:
“We are proud to partner with Phoenix Solar, an international leader in system integration as well as specialist for large-scale PV plants. Our PV modules are meeting … Read the rest
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LDK Solar (LDK) reported a non GAAP Q4 EPS of $0.03 which missed analyst estimates of $0.12 as margins took a hit. Revenues were a bit above estimates at $304 million. While that’s a big improvement over the year ago quarter when the company reported a whopping 2.05 loss, it wasn’t enough to keep traders from dumping the stock today.
Here are some highlights of comments … Read the rest