Solar stocks are feeling some heat Tuesday from a June quarter warning by the German solar products provider Q-Cells (QCE.F).
“The prolonged weak development of the global photovoltaics markets has continued to negatively impact the business development of Q-Cells in the second quarter,” the company said in a statement. “The seasonal market upturn which the industry had been anticipating to start in the second quarter has broadly not materialized for Q-Cells as yet.”
The company sees Q2 revenue of 142 million Euros, down from 225 million in Q1, with a loss of 62 million Euros, down from a profit of 15 million. Q-Cells said the weak results reflect “lower sales volumes, the postponement of a large scale project to the third quarter and the continued downward trend in solar cell prices.”
Q-Cells also said that given “it will not be possible” to hit its previous full year revenue and production targets.
In trading in Frankfurt, Q-Cells shares fell 15.5%.
Among other solar stocks:
- First Solar (NASDAQ:FSLR) is down $5.09, or 3.5%, to $140.70.
- SunPower (SPWRA) is down 85 cents, or 3.7%, to $22.30.
- Suntech (NYSE:STP) is down 24 cents, or 1.6%, to $14.68.
- Yingli (NYSE:YGE) is down 53 cents, or 4.9%, to $10.25.