Trina Solar (NYSE:TSL) reported financial results yesterday that missed analyst estimates, but shares rose anyway which is an indication that the worst is likely over for top tier solar stocks such as Trina Solar. The company reported an EPS of .32/share on revenues of $580 million vs the analyst estimates for .47/share on revenues of $600 million.
Here are some highlights of comments made by CEO Jifan Gao:
- achieved record shipments in the quarter despite solar subsidy reductions in Italy
- expects significant reduction in Q3 manufacturing costs
- seeing substantial improvement in order pipeline across Europe and N America
- encouraged by China’s national solar FIT program announced several weeks ago
- expanded warranty from 5 to 10 years
Looking ahead the company expects and record quarter in terms of shipments with Q3 shipments in the range of 480 – 520MW and for the full year the company reiterates previous shipments guidance of between 1.75 – 1.8GW.