Yingli +11.1% on guidance reiteration, margin improvement

Though it missed Q1 estimates, Yingli (YGE) is reiterating guidance for 4GW-4.2GW of full-year module shipments (400MW-600MW for solar system projects). With shares down 30% YTD going into the report, that's going over well.

Module shipments -32.9% Q/Q in Q1 to 630.8MW, in-line with revised guidance and the result of soft Chinese demand. A mix shift towards higher-margin markets led gross margin to rise to 15.7% from 12.2% in Q4 and 4.1% a year ago.

Yingli says it saw "exceptional demand" in Japan, and "steady growth" in the U.S. and Europe. Its Chinese downstream project pipeline remains at 1GW.

Excluding a bad debt provision, opex was 17.6% of revenue, up from 16.3% a year ago. Yingli ended Q1 with $204.8M in cash, $277.7M in restricted cash, and over $2.4B in debt.

Aside from its report, Yingli could be getting a boost from SolarCity's big module plant announcement.

Q1 results, PR

From other sites
Comments (0)
Be the first to comment
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