| Trina Solar Beats on Q2 Earnings, Raises Shipments Forecast | |
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Solar photovoltaic (“PV”) module manufacturer Trina Solar Ltd. TSL reported earnings of 42 cents per American Depositary Shares (ADS) in the second quarter of 2015, beating the Zacks Consensus Estimate of 24 cents by 75%. The reported figure also increased from 14 cents per ADS earned in the year-ago quarter. The upside was driven by higher shipments.
Total Revenue
Trina Solar posted revenue of $722.9 million in the second quarter, up 39.2% year over year and 29.5% sequentially driven by higher shipment volumes to meet growing demand in China, India and the U.S. However, the quarterly figure missed the Zacks Consensus Estimate of $653 million by 10.7%.
Shipments
Solar module shipments in the reported quarter totaled 1,231.6 megawatts (“MW”) compared with 943.3 MW in the year-ago quarter and 1,026.2 MW in first-quarter 2015. This was attributable to increasing demand from prime geographical regions, like China, the U.S. and emerging markets.
Operational Update
Gross profit in the second quarter was $144.9 million, higher than a profit of $80.2 million a year-ago and $100.3 million in the previous quarter. The sequential increase primarily reflects changes in reduced in-house manufacturing costs as a result of greater economies of scale, along with improvement in operational efficiency. The year-over-year increase was primarily because the annual decline in cost per watt was greater than that in the company’s average selling price.
Total operating expenses were $84.2 million in the quarter, up 30.4% year over year and 18.3% sequentially.
Interest expense was $12.4 million, higher than $8.1 million incurred in the year-ago period and $10.7 million in the preceding quarter. Financial Update
As of Jun 30, 2015, cash and cash equivalents were $456.5 million compared with $392.9 million as of Dec 31, 2014.
Long-term debt as of Jun 30, 2015 increased to $94.8 million from $22.4 million as of Dec 31, 2014.
Guidance
Trina Solar expects third-quarter 2015 module shipment in the range of 1,450 MW to 1,500 MW. The company raised its full-year guidance of total PV module shipments to the range of 4.9 gigawatts (“GW”) to 5.1 gigawatts (“GW”) from earlier guided range of 4.4 GW to 4.6 GW.
Another Company Release
JA Solar Holdings Co. Ltd. JASO posted second-quarter 2015 adjusted earnings of 27 cents per diluted ADS, surpassing the Zacks Consensus Estimate of 9 cents by an impressive 200% and the year-ago earnings by 92.9%.
Upcoming Releases
JinkoSolar Holding Co., Ltd. JKS is scheduled to release its second-quarter 2015 results on Aug 20, 2015. The Zacks Consensus Estimate pegged at 83 cents per ADS.
ReneSola Ltd. SOL is scheduled to release its second-quarter 2015 results on Aug 25, 2015. The Zacks Consensus Estimate is a loss of 17 cents per ADS.
Zacks Rank
The company presently holds a Zacks Rank #3 (Hold).
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Trina Solar Ltd.
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CODE : TSL |
ISIN : US89628E1047 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Trina Solar est une société basée en Chine. Trina Solar est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 4,3 milliards US$ (3,9 milliards €). La valeur de son action a atteint son plus haut niveau récent le 22 avril 2016 à 9,99 US$, et son plus bas niveau récent le 16 janvier 2018 à 0,01 US$. Trina Solar possède 449 180 000 actions en circulation. |