Suntech Power (STP) is out this morning posting preliminary results for Q4 2011 and the results are considerably better than expected. The stock soared at the open up around 20%, but has given much of that back and is currently up around 12% on heavy volume.
The company says it has exceeded previous guidance and will post revenues in the $610 – $630 million range with full year shipments above the previous guidance of 2GW … Read the rest
In an article over at CNBC Suntech Solar (STP) CEO Zhengrong Shi said he is upbeat on the solar sector highlighting the fact it is now becoming competitive with traditional energy sources, dropping from $6/watt 10 years ago to nearly $1/watt now.
While upbeat in the longer term, he did acknowledge the difficulty short term as over supply continues to be an issue.
“Right now, there is an oversupply situation, manufacturing capacity is expanding faster … Read the rest
Suntech Power (STP) is announcing preliminary results this morning that aren’t bad. The company expects shipments will have increased 15% over last quarter with revenues exceeding $800 million. Margins are expected to be at the higher end of the previously announced range of 11 – 13%. However, the stock is off a few percent this morning on news that the company will incur a larger than expected Forex hit. Looking ahead, the company is optimistic … Read the rest
For those that have been regular readers of GreenStocksCentral.com you might remember that I used to publish the research notes of Mark Bachman who focuses on the solar industry. At the time he was working for Auriga and now he’s on the move again providing research to clients of Avian Securities. Regardless of who he’s working for I’ve always thought that his solar research was quite good.
Suntech Power (STP) announced a 28MW solar module supply deal today with SunPeak Solar for a 23MW plant in California across 123 acres. About 100K units of Suntech’s 285/290W (DC) solar modules will be used in the project which is expected to help power 14000 homes in the area particularly during times of peak demand.
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"We’re excited to support SunPeak Solar in helping IID meet its … Read the rest
Suntech Power (STP) is posting earnings results this morning that are in line with its competitors. Strong revenues and plummeting profits. Even when you take out the write off for the MEMC and CSG Solar investments, the company still lost .19/share despite strong revenues of $830 million. Analysts had expected a profit from the company on revenues of $800 million. The CEO acknowledged it remains a highly competitive market and that should remain so for … Read the rest
Not a bad earnings report out of Suntech Power (STP) last night. The company took a forex hit of about $30 million and when you take that out, the company just about matched the analyst estimate of .35/share. The company reported a .34/share gain minus the forex hit on revenues of $877 which were a bit above the estimate for $863. Gross margins hung in there at 19% which was just slightly below last quarter’s … Read the rest
It’s a good day for JA Solar (JASO) but for solar as a whole, it’s not a great day. Much of that has to do with reports filed by Suntech Power (STP) and First Solar Inc. (FSLR) (two the world’s largest solar companies), warning about the potential for a significant hit to demand for solar and falling prices due to Europe government subsidy cuts. With Europe accounting for 80% of solar demand, the cuts could … Read the rest
When you think of growth in solar installations countries like China, Germany, Italy, Spain & the US come to mind, but you rarely hear mention of India. I’ve been saying for some time now that will change and in the past year or so we’ve seen a few more announcements of major deals struck in the Indian solar market. This morning it was announced that Suntech Power (STP) locked up a 100MW solar panel supply … Read the rest
Usually, I just posts highlights of the reports from Mark Bachman from Auriga, but this morning decided to just publish in full. Thoughts?
As the second act of the Italian solar drama begins, we look at the bear argument of "too much 2012 capacity leading to uncontrollable price and margin declines." At the risk of starting a larger food fight, we provide our view on how industry capacity develops and show that actual shipments end … Read the rest