- JA Solar (NASDAQ:JASO) -6.1% premarket after Q2 earnings and revenues come in short of Wall Street expectations, even as shipments soared.
- On a Y/Y basis, results were much improved: Excluding special items, earnings swung from a year-ago loss, and revenue surged 53% to 2.4B yuan ($390.5M).
- Total shipments during Q2 jumped 47% Y/Y to 681.8 MW, while shipments of modules surged 76% to 445.8 MW; JASO says it expects total cell and module shipments of 730-760 MW in Q3.
- Gross margin was 15.2%, vs. 8.1% in the year-ago quarter and 16.7% in Q1 2014.
- Raises FY 2014 shipment guidance, now expecting to ship 2.9-3.1 GW, vs. prior guidance of 2.7-2.9 GW.
- CEO Baofang Jin expects sustained growth and profitability in H2 "due to accelerating activity in China, and continued favorable product and geographic mix."