ReneSola: Still Hanging By A Thread
EnerTuition • 36 Comments
EnerTuition • 36 Comments
Tue, Nov. 29, 12:59 PM
- ReneSola (SOL -5.2%) sinks after reporting a wider than expected Q3 loss and below consensus revenues while also guiding Q4 revenues below expectations.
- SOL says Q3 results missed expectations as weak demand led to reduced shipments and significant pricing pressure; gross margin of 10.1% was in-line with guidance but well below 16.5% in Q2 2016 and 16.1% in the year-ago quarter.
- The company now sees Q4 revenues of $220M-$240M vs. $246M consensus from limited coverage, with gross margin in the high-single digits, reflecting reduced shipments due to weak domestic demand, high polysilicon prices and declining wafer prices.
Tue, Nov. 29, 6:59 AM
Mon, Nov. 28, 5:30 PM
Mon, Sep. 26, 9:54 AM
Wed, Aug. 24, 9:14 AM
Wed, Aug. 24, 6:57 AM
Tue, Aug. 23, 5:30 PM
Tue, May 24, 10:19 AM
- Roth Capital has reiterated its Neutral rating on ReneSola (SOL -1.4%) after the company swung to a Q1 profit yesterday amid a shift toward higher margin projects.
- Roth's Philip Shen has a $1.45 price target; shares are quoting at $1.40 today after gaining 12.8% yesterday.
- “Management reiterated expected project sales of ~100MW in 2016 and expanded its late-stage pipeline to 323MW giving us greater confidence that the company’s sales target is achievable,” Shen says, though he would like to see a greater demonstration of its ability to grow distribution and downstream, while keeping margins stable at its manufacturing business.
Mon, May 23, 9:18 AM
- ReneSola (NYSE:SOL) is up 12.2% premarket after Q1 revenues came in line with company guidance but beat analyst consensus, and the company swung to profit.
- Revenues declined due to lower module ASP and lower shipments to external customers as it keeps shifting toward downstream project development, pursuing higher profitability.
- Gross margin rose to 17.1% from a year-ago 10.5% (and from Q4's 16%).
- Total external module shipments of 350.7 MW. Shipments to its downstream projects were 20.1 MW.
- The total project pipeline has 785.3 MW in different development stages.
- For Q2, it's guiding to revenues of $280M-$290M (vs. consensus of $275M) and gross margin of about 18%; for the full year, it sees revenues of $1B-$1.2B (vs. expected $1.13B) as it continues to shift toward downstream development.
Mon, May 23, 9:16 AM
Mon, May 23, 7:07 AM
- ReneSola (NYSE:SOL): Q1 EPADS of $0.06 beats by $0.10.
- Revenue of $260.7M (-25.3% Y/Y) beats by $4.65M.
Sun, May 22, 5:30 PM
Wed, Mar. 16, 2:26 PM
- ReneSola (SOL -0.7%) has repurchased its remaining $5.6M in convertible notes due March 2018 following the exercise by noteholders of a put option that expird on Monday. CEO Xianshou Li notes ReneSola has now "repurchased all of our $200 million convertible notes with cash generated from operating activities."
- The company also says it has bought back 877K ADS' through the $20M, 12-month, buyback it launched last September. At ReneSola's current trading price of $1.48, the buybacks would cost $1.3M.
Tue, Mar. 8, 9:17 AM
- Gainers: SUNE +29%. LEU +24%. OMER +14%. BNTC +12%. TERP +11%. URBN +8%. ORIG +7%. SOL +6%. BCRX +5%.
- Losers: PSG -35%. EMITF -18%. OCLR -15%. REXX -14%. EPE -11%. FBR -11%. CRK -10%. LINE -10%. SHAK -9%. VNR -8%. SDRL -8%. BCEI -7%. LNCO -7%. RIO -7%. CRC -7%. BHP -6%. VSLR -6%. BTU -6%. JBLU -6%. ARP -6%. TSEM -6%. DNR -6%. BBL -6%. MT -5%. VALE -5%.
Tue, Mar. 8, 8:23 AM
- ReneSola (NYSE:SOL): Q4 EPADS of $0.07 beats by $0.09.
- Revenue of $296.39M (-23.4% Y/Y) beats by $12.72M.
Mon, Mar. 7, 5:30 PM