Aug. 27, 2013, 7:59 AM
- LDK Solar's (LDK) quarterly loss was $165.3M, its ninth in a row but better than last quarter's $187.1M loss and a $254.3M loss in the year-ago quarter.
- Shipped 303.9 MW of wafers, 35.3 MW of cells and modules in Q2; expects Q3 shipments of 350 MW of wafers and as much as 80 MW of cells and modules.
- Revenues of $114.7M were -51% Y/Y; expects Q3 revenues of $140M-$180M vs. $151.8M single estimate.
- Ended the quarter with $85.1M in cash, lowest since 2009.
- Says it is starting to see early signs of improvement within the photovoltaic market as prices stabilize.
- LDK -1.7% premarket.
Aug. 27, 2013, 5:04 AM
Aug. 27, 2013, 12:05 AM
Aug. 26, 2013, 5:30 PM
Aug. 21, 2013, 1:06 PM
- Solar stocks, among the biggest standouts in a year that has been very good to many high-beta tech names, have staged a strong two-day rally in the wake of Trina's (TSL +13.2%) Q2 beat and guidance hike.
- Trina's numbers have sparked three upgrades, the most recent of which came today, courtesy of Cowen.
- Bloomberg notes Trina, SunPower (SPWR +4.3%), and JinkoSolar (JKS +5.6% - just announced a new 23MW supply deal) are all operating at full capacity, and thinking of expanding.
- S&P's Angelo Zino: "I think it’s safe to say that we’ll see a number of tier-one manufacturers add capacity, probably in 2014."
- That would be a positive for equipment suppliers such as AMAT, GTAT, and VECO, who have seen their solar orders plummet as module makers scramble to stabilize crashing prices and margins.
- Other names rising today: CSIQ +9.7%. SOL +6.7%. YGE +6.2%. JASO +4.2%. CSUN +5.4%. ASTI +5.1%. STP +3.8%. LDK +4.1%.
Aug. 12, 2013, 10:24 AM
- LDK Solar (LDK +4.4%) expects to return to profit this year on stronger domestic demand and as the tariff deal between China and the EU promises better sales in Europe, President Tong Xingxue tells Bloomberg.
- LDK, scheduled to report Q2 on Wednesday, started generating positive cash flows from selling solar wafers in June, Tong says, "the first time in two years we witnessed obvious improvement. The market is steadily rising and our demand has exceeded supply."
Aug. 12, 2013, 9:12 AM
Aug. 7, 2013, 11:34 AM
- First Solar (FSLR -13.5%) is tanking following its Q2 miss and light 2013 guidance. Shares still +31% YTD and +253% from their June '12 low.
- No downgrades have come in yet. Analysts are largely defending the company, talking up the GE deal and focusing on the impact of project sale timings on Q2 results.
- Solar peers continue to dive (TAN -8.1%) thanks to First Solar and SunEdison's (I, II) results and guidance. SPWR -12.4%. TSL -7.5%. ASTI -7.1%. SCTY -5.5%. CSIQ -7.8%. SOL -9%. JASO -6.8%. LDK -6.5%.
- First Solar's Q2 module production totaled 388.9MW, +5% Q/Q and Y/Y. Its total cost/watt fell $0.02 Q/Q and $0.05 Y/Y to $0.67. 2013 guidance is for a cost of $0.63-$0.66.
- Capacity utilization is at 75%, flat Q/Q and +1200 bps Y/Y. Conversion efficiency +10 bps Q/Q and +40 bps Y/Y to 13%. 2013 lead-line exit guidance is at 14%.
- Expected future module shipments stand at 2.2GW, down from 2.6GW at the end of 2012 (900MW in YTD shipments offsetting 500MW in new bookings). Expected future revenue at $7.6B vs. $8B at end of 2012.
- CC transcript, slides, datasheet
Aug. 6, 2013, 8:37 PM
- Solar stocks, many of which have seen enormous 2013 gains, finished AH trading down moderately after First Solar missed Q2 estimates (the company blamed solar project sale push-outs) and lowered its 2013 guidance.
- SPWR -2.6% AH. SCTY -2%. SUNE -1.2%. LDK -2.6%. CSIQ -2.4%. JKS -2.2%. STP -2.2%. JASO -2.8%. TSL -2.7%. YGE -3.4%. SOL -2.8%.
Aug. 2, 2013, 5:42 PM
- The agreement, negotiated between EU and Chinese officials, sets a minimum price of €0.56/watt ($0.74/watt) for Chinese solar module imports, and limits imports to 7GW/year. The deal covers 90 Chinese solar module firms possessing a 60% regional share.
- EU trade commissioner Karel De Gucht observes the minimum price matches the price at which South Korean firms are selling panels without engaging in dumping.
- The deal prevents the imposition of anti-dumping tariffs of 37.3%-67.9%; the tariffs were set to go into effect on Aug. 6.
- European solar trade group EU ProSun, which wanted a minimum price of €0.80/watt, considers the deal unacceptable, and has threatened to file suit.
- Chinese solar stocks, which took off on Monday on initial news of a settlement deal, saw some profit-taking today. LDK -6.1%. SOL -5.5%. JASO -5.4%. JKS -5.2%. YGE -2.3%. CSIQ -1.9%. HSOL -3.7%. DQ -7.1%.
Jul. 29, 2013, 9:16 AM
Jul. 29, 2013, 8:33 AM
- 47% duties on Chinese panel exports to Europe don't kick in until annual export limit — set at seven gigawatts— is hit. (previous)
- Settlement sets minimum price lower than EU companies wanted and close to recent average prices for Chinese manufacturers.
- Premarket movers: YGE +9.48%, JASO +7.2%, LDK +7.69%, TSL +6.97%, JKS +8.61%, SOL +10.47%, CSIQ +5.99%, HSOL +10.4%
Jul. 27, 2013, 9:29 AMAfter a series of "arduous" and meticulous" negotiations, the EU and Chinese solar panel makers have settled their long-running trade dispute. Under the terms of the deal, Chinese companies can export up to seven gigawatts each year as long as the price doesn't fall below €0.56/ watt. Exports in excess of the annual limit or sold below the minimum price will be subject to duties averaging 47% beginning in August. It appears the Chinese come out ahead given that, according to FT, the minimum price "is in line with recent averages [but] well below the €0.80" EU companies "deemed reasonable." On watch Monday: YGE, JASO, LDK, TSL, JKS, SOL, CSIQ, among others. | 13 Comments
Jul. 16, 2013, 12:41 PM
Jul. 15, 2013, 12:45 PM
Jul. 15, 2013, 11:01 AMSolar stocks enjoy a bright session as China says it will up its installed solar capacity to 35 gigawatt over the next two years in a move Bloomberg says is designed to "help reduce the industry’s reliance on exports and ease oversupply that contributed to a 20% plunge in the average price of solar panels last year." LDK +12.5%, DQ +2.33%, JKS +10.7%, TSL +11%, SPWR +5.2%, SUNE +5.79%, YGE +7.75%, CSIQ +7.62%, STP +9.96%. | 3 Comments
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