JA Solar +6.5% on Q1 beat, Q2 guidance, strong Japanese demand

JA Solar's (JASO) Q1 cell/module shipments totaled 638.1MW, -4.1% Q/Q and +44.1% Y/Y, and soundly above guidance of 580MW-610MW. Shipments are expected to grow to 670MW-700MW in Q2.

For now, full-year guidance of 2.7GW-2.9GW (200MW for JA's downstream projects) is being reiterated.

Gross margin rose to 16.7% in Q1 from 15.5% in Q4 and 6% a year ago. Opex rose 18% Y/Y, less than rev. growth of 35.7%.

While cell shipments fell 17.2% Q/Q to 250MW, module shipments rose 6.8% to 388MW.

Thanks to surging Japanese demand, Asia-Pac markets other than China made up 52.8% of Q1 shipments. Europe (14.8% of shipments) was also a geographic strong point. China only accounted for 26% of Q1 shipments (seasonality), and the U.S. 4.1%.

Q1 results, PR

From other sites
Comments (2)
  • User 7874211
    , contributor
    Comments (4) | Send Message
    $20 stock if the bears don't take total control of the market...
    8 May 2014, 09:19 AM Reply Like
  • canb888
    , contributor
    Comments (727) | Send Message
    Looks like the US tariff is not hurting Chinese low cost producers like JASO that much but benefiting Japan and other countries indirectly who are soaking up the excess supply. Look at SolarCity and other US solar companies' results for further confirmation.
    8 May 2014, 09:26 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs