Earnings Preview: Trina Solar

| About: Trina Solar (TSL)

Trina Solar Limited (NYSE:TSL) is scheduled to report its Q2 2012 results on August 21, 2012, before market opens. The street expects EPS and revenue of ($0.72) loss and $403.40M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from TSL and the news from its closest competitors.

Trina Solar Limited Revenue and Net Income History

Recent EPS Actuals vs. Estimates

The company has failed to meet analysts' estimates in the last four quarters. In the last quarter it reported ($0.42) loss per share, failing to meet analyst estimates of ($0.29) loss.

Trina Solar Limited EPS Historical Results vs Estimates

The consensus EPS estimate is ($0.72) loss based on 20 analysts' estimates, down from $0.17 a year ago. Revenue estimates are $403.40M, down from $579.46M a year ago. The median target price by analysts for the stock is $6.00.

Average recommendation: Hold

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On May 24, 2012, Ardour Capital reiterated Hold rating for the company.
  • On May 23, 2012, Maxim Group upgraded the company from Sell to Hold.
  • On April 16, 2012, Auriga upgraded the company from Hold to Buy.
  • On February 21, 2012, Brigantine initiated Hold rating for the company.

Latest News

  • On June 26, 2012, Trina Solar Ltd announced that its board of directors and audit committee approved the appointment of KPMG as its independent auditors for the year ending December 31, 2012.


First Solar (NASDAQ:FSLR), JA Solar Holdings (NASDAQ:JASO), LDK Solar (NYSE:LDK), Suntech Power Holdings (NYSE:STP), and Yingli Green Energy Holding (NYSE:YGE) are considered major competitors for Trina Solar and the chart below compares the stock price changes as a percentage for the selected companies for the last one year period.

TSL Chart

TSL data by YCharts

Competitors' Latest Development

  • On August 7, 2012, Ja Solar Holdings Co Ltd announced that it has signed a supply agreement with A Shade Greener (NYSE:ASG), a UK-based PV installer and installer of free solar panels to the residential market in the United Kingdom.
  • On August 2, 2012, First Solar, Inc. reported in its Form 8-K that effective July 30, 2012, Mr. Ahearn resigned as an employee of the Company and the Employment Agreement terminated.
  • On August 1, 2012, First Solar, Inc. announced that it is increasing fiscal 2012 guidance and expects net sales of $3.6-$3.9 billion, compared to prior guidance of $3.5-$3.8 billion.
  • On July 30, 2012, Ja Solar Holdings Co Ltd announced that it entered into a share transfer agreement (the Agreement) on July 23, 2012 with M.SETEK Co., Ltd. (M.SETEK), a polysilicon and solar wafer manufacturer in Japan controlled by AU Optronics Corp.
  • On June 26, 2012, LDK Solar Co Ltd announced that based upon current business conditions for the second quarter of 2012, it estimates revenue to be in the range of $220-$270 million.
  • On June 20, 2012, enXco, an EDF Energies Nouvelles Company, announced that they have signed a solar module supply agreement with First Solar Inc. First Solar will deliver 61 megawatts peak (MWp) of thin film modules starting in September 2012 for enXco's Catalina Solar Project located in Kern County, California.
  • On June 14, 2012, Ja Solar Holdings Co Ltd announced that Board of Directors has approved a share repurchase program, effective immediately, that authorizes JA Solar to repurchase up to a USD100 million worth of its issued and outstanding American Depositary Shares (ADSs) prior to September 30, 2012.
  • On June 11, 2012, First Solar, Inc. and Intermolecular, Inc. announced a collaboration and licensing agreement aimed at accelerating the efficiency roadmap for First Solar's cadmium-telluride (CdTe) photovoltaic (PV) technology.
  • On June 4, 2012, LDK Solar Co Ltd announced that the Company has signed three multi-year engineering, procurement, and construction (NYSE:EPC) agreements. All three projects are located in the Gansu province of the People's Republic of China.

Technical Overview

The stock has a market capitalization of $320.80M and is currently trading at $4.60 with a 52 week range of $4.12 - $16.78. The stock's year-to-date performance has been -31.14%. It is currently trading below 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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Tagged: , Semiconductor - Specialized, China, Earnings
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