Here are the lowlights for the Otter Tail (OTTR) quarter. The company reports an EPS of .07/share, missing estimates by .04/share and under performing from the year ago quarter by 36%. Revenues missed estimates badly as well coming in at $247 million vs the estimates of $304 million and representing a 24% drop from the year ago quarter. To top it off, the company is lowering guidance for 2009 to .70 – 1.10 from .80 … Read the rest
Tag Archives: Wind Energy
American Superconductor (AMSC) Amends Sinovel Contract To Meet Increasing China Wind Energy Demand
American Superconductor (AMSC) announced this evening that they are increasing their shipments to China’s largest wind turbine manufacturer Sinovel in order to meet increased demand. The amended contract will increase the number of AMSC’s PowerModule PM3000MW power converters which allows Sinovel to include grid friendly features with its wind turbines, such as controlling power flows, regulating voltage, monitoring system performance and maximizing efficiency. The overall contract value increases by $20 million for AMSC.
“Sinovel has … Read the rest
A-Power Energy (APWR) Big Earnings Miss, But Raised Guidance; CEO: "Seasonal Weakness"
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
American Superconductor (AMSC) Reports First Quarterly Profit In Company History
American Superconductor (AMSC) reached an important milestone this morning, reporting the 1st quarterly profit in company history with a non GAAP EPS of .09/share, beating analyst estimates by .08/share. Revenues also beat analyst estimates at $61.2 million vs the consensus of $57.9 million and represented a 60% surge over the year ago quarter.
“AMSC posted its strongest financial performance to date in the fourth quarter of fiscal 2008,” said Greg Yurek, AMSC’s founder and chief … Read the rest
American Superconductor Corporation (AMSC) Receives Large Order From ACCIONA
American Superconductor Corporation just announced that it has signed a supply agreement worth more than $10 million with ACCIONA Energy. ACCIONA has ordered enough Dynamic VAR Ride Through (D-VAR RT) solution to retrofit approximately 250 MW of first-generation wind turbines and make them comply with current regulatory standards in Spain that require wind turbines to have a stable connection to the power grid.
In a press release, AMSC’s VP of Global Sales and Business … Read the rest
KeyBanc Upgrades Trinity (TRN) & Kaydon (KDN) After American Wind Energy Show
Hat tip to StreetInsider.com for this report:
Trinity Industries (TRN) is getting an upgrade from Hold to Buy and Kaydon (KDN) gets a price target upgrade from $36 to $44 by Key Banc after the firm attended the American Wind Energy Association show in Chicago.
KeyBanc analyst says, “After recently attending the American Wind Energy Association’s show in Chicago, we are much more enthusiastic about the wind story for 2010, and we are upgrading our … Read the rest
China Seeks 100GW Wind Power Capacity By 2020
China has raised the goalposts for the percentage of its energy that comes from wind power. 18 months ago, the Chinese government set a goal of increasing the country’s wind energy capacity to 30 GW by 2020. Now, they are aiming for 100 GW of wind power by 2020. By 2050, they expect to be getting 40 percent of their power from renewable sources.
China’s energy plan will also make it the largest growth market … Read the rest
DOE Adds $93 Million For Wind Energy Research/Development
By Jeff Siegel
Wednesday, April 29th, 2009
3 Ways to Play Hottest Green Energy Sectors – Get Your FREE Report
This afternoon, U.S. Energy Secretary, Steven Chu announced plans to pony up $93 million from the American Recovery and Reinvestment Act to support further development of wind energy. He also announced more than $100 million in funding for the National Renewable Energy Laboratory (NREL) and for infrastructure development.
Here’s the breakdown for wind development support…… Read the rest
FPL Group (FPL) Reports Strong Quarter, Raises Outlook
FPL Group (FPL) reported earnings this morning and it was a strong quarter in a tough environment. The leading provider of wind and solar energy reported a non GAAP EPS number of .90/share beating estimates by .13/share.
It’s NextEra Energy Resources division which houses its wind and solar operations produced good results with an EPS of .62/share (a 13% increase over the year ago quarter) however the gains were driven by new investments in wind … Read the rest
Ted Turner: "Clean Energy Technology Greatest Opportunity World Has Ever Seen"
Cable TV tycoon Ted Turner believes clean energy offers the biggest opportunity the world has ever seen and compares it to cable TV 40 years ago in that the field is wide open and rife with opportunity. From Bloomberg:
“I’m putting my money where my mouth is and I’ve made a multimillion investment in solar power,” Turner, 70, said in the interview in Washington on April 24. “I’m looking to make an investment in … Read the rest