Vestas Wind Systems (VWSYF) is the largest wind energy company in the world so its earnings reports provide a good barometer of the state of the sector. The Danish company posted big revenue and earnings growth in 2008, but as always the market places the most importance on the future. The company didn’t disappoint there either, maintaining estimates for this year but did acknowledge that job cuts aren’t out of the question if the global … Read the rest
Tag Archives: Wind Energy
Zoltek (ZOLT) Misses Badly, Stock Plunges AH; CEO: "Fundamentals Of Wind Energy Sector Strong"
Zoltek Companies (ZOLT), the maker of carbon components for wind turbines reported an awful quarter after the bell with just .02/share in earnings which badly missed analyst estimates of .13/share. Revenues declined by 4% from the year ago quarter to 38.6 million.
“This year our results were further affected by customer reaction to increasingly serious global economic uncertainties. Customers in the computer and automotive markets, along with one of our wind turbine customers, postponed or … Read the rest
Analysts: Buy American Superconductor (AMSC), Downgrade Evergreen Solar (ESLR)
Analysts are out with a few notes this morning – an initiation of coverage on American Superconductor (AMSC) with a BUY and a downgrade of Evergreen Solar (ESLR) to NEUTRAL.
According to StreetInsider.com, Piper Jaffray downgraded ESLR to Neutral for the following reasons:
– rapidly losing polysilicon cost advantage
– low visibility in financial impact of outsourcing production to Asia
– minimal balance sheet flexibility for pursuing expansion in Asia
Broadpoint AmTech Initiates Coverage … Read the rest
Otter Tail (OTTR) Misses Estimates & Guides Lower
Bill Gates continues to get hammered by the OTTR. As a significant owner of the stock (he recently added more), he’s getting hit again today after Otter Tail (OTTR) missed estimates and guided lower for next year. The company reported 4Q EPS of .38/share which missed estimates of .45/share, a 17% drop over the year ago quarter and the 4th straight quarter of negative growth. The company also missed on revenues, reporting $334 million vs … Read the rest
American Superconductor (AMSC) Beats, Narrows Guidance
American Superconductor (AMSC) is up just a bit this morning after reporting a smaller loss than expected. The company reported a loss of .18/share (matches the year ago quarter) in the quarter vs estimates of a .20/share loss on revenues that were slightly higher than expected at 41.3 million (a 27% increase over the year ago quarters). Not exactly a great quarter but not awful either.
The company attributed the year-over-year reduction in gross margin … Read the rest
FPL Group (FPL) Tops Estimates With Strong Quarter, Fueled By NextEra Energy
FPL Group (FPL), called the Wal Mart of Wind by Barron’s and the largest producer of wind and solar energy in the US, reported earnings this morning that topped analyst estimates at .90/share and represents 25% growth over the year ago quarter on revenue growth of 9%. All in all, a very good quarter in a tough environment. The company remains comfortable with expectations for 2009 and 2010 with EPS guidance of $4.05 – $4.25 … Read the rest
Vestas Wind Systems (VWSYF) Invests In Chinese Subsidiary
Vestas Wind Systems has announced it will invest $350 million in its Tianjin, China subsidiary. This investment will position the company to meet China’s increasing hunger for wind energy. Vestas has received several large orders from China in the past month and in the past year. As CleanTech Group LLC notes, investing in its Chinese subsidiary is smart because China is such an important and growing market for wind power:
… Read the restChina is a significant market
RMT Inc (LNT) Completes Largest Michigan Wind Farm
RMT Inc, a unit of Alliant Energy Corporation, announced that its Michigan Wind 1 facility is up and running. The facility, located near Ubly, Michigan, began producing power last month. Each year, the wind farm is expected to produce enough power to supply 20,000 homes.
The Business Journal of Greater Milwaukee has more details on the wind farm:
… Read the restRMT provided construction of the civil and electrical services for the site, including erecting 46 1.5-megawatt wind
Xcel Energy’s (XEL) Grand Meadow Wind Farm Producing Energy In Minnesota
Xcel Energy announced today that its first wind farm in Minnesota is now in operation. The 100.5-megawatt Grand Meadow Wind Farm has been contributing electricity to the grid since December 4th.
From TwinCities.com, here’s a rundown of Xcel’s current wind power capacity:
… Read the restWith the addition of the Grand Meadow project, Xcel Energy has more than 1,200 megawatts of wind-powered generation on its Upper Midwest system. The company plans to have 4,000 megawatts of wind power
American Superconductor Corporation (AMSC) Scores Deal For Chinese Power Grid
American Superconductor Corporation announced yesterday that the company has just received its first order from the Chinese power grid market. The order, placed by Beijing SNTA Electric Power Technique Co., was for one of AMSC’s D-VAR voltage regulation systems. Under the contract, AMSC will provide Beijing SNTA Electric Power Technique Co one of these systems by the middle of this year.
The D-VAR system makes it possible for wind farms to connect to the larger … Read the rest