Seeking Alpha

Seeking Alpha Portfolio App for iPad

340 people get VWDRY.PK articles and Market Currents by email alert.

Get email alerts on VWDRY.PK »

VWDRY.PK

Vestas Wind Adr

5/23/2013, 7:43 AM ET

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Wednesday, February 6, 8:29 AM Vestas Wind Systems (VWDRY.PK) says its full-year 2012 net loss widened to €963M vs. a loss of €166M in 2011 and analyst expectations of a €192M net loss. Revenue came in at €7.22B vs. €5.84B a year ago and analyst consensus of €6.91B. Cuts 2013 shipment guidance to 4-5 GW of capacity from previous 5 GW, and made no forecast on profitability. Comment! [Energy, Earnings]
Wednesday, January 16, 10:43 AM The U.S. wind industry is planning new wind farms again after Congress renewed subsidies, but this year's projects seem unlikely to match 2012 megawatt records. Duke Energy (DUK) is looking at "hundreds of megawatts" of new wind farms, but others are less optimistic; Siemens (SI) notes "the U.S. energy market remains very competitive with record low natural gas prices and slow energy demand growth." 1 Comment [Energy]
Tuesday, November 27, 2012, 10:56 AM Talks between Vestas (VWDRY.PK) and Mitsubishi Heavy Industries to build the biggest offshore wind turbine are bolstered by securing €900M in financing yesterday through 2015. Vestas’ negotiating power is now “slightly improved... It doesn’t increase the financial flexibility of Vestas, but it removes the short-term default risk." Shares -9.5% after jumping 22% yesterday. Comment! [Energy, On the Move]
Wednesday, November 7, 2012, 8:31 AM Vestas Wind Systems (VWDRY.PK) reports a Q3 net loss of €175M ($225.3M) vs. a net loss of €60M in the year-ago period and revenues of €1.99B vs. €1.34B Y/Y. The world's largest manufacturer of wind turbines says it will step up its cost-cutting efforts and reduce its headcount further during 2013 through divestments, a hiring freeze and layoffs. Shares -12% in Copenhagen. Comment! [Energy, Earnings]
Friday, October 12, 2012, 7:08 AM The winds of change are blowing at Vestas (VWDRY.PK) with a tax credit set to expire in the U.S. and orders falling by more than 20% Y/Y. The company says it has cut 800 jobs in the U.S. and Canada this year already. 1 Comment [Energy, Global & FX]
Friday, September 28, 2012, 9:41 AM The U.S. wind turbine market could blow away without continuation of a politically charged tax credit, a top official of Danish turbine maker Vestas (VWDRY.PK) tells FT, warning of 75%-95% shrinkage in the U.S. market for wind power if the tax credit for wind power is allowed to expire at the end of the year. 7 Comments [Energy]
Tuesday, August 28, 2012, 11:52 AM Shares in Vestas Wind Systems (VWDRY.PK +18.2%) surge after the wind-turbine maker confirms it’s in talks with Mitsubishi Heavy Industries over a strategic pact. Analysts believe any partnership between the two companies may emerge as a joint offshore-wind business which may erase lingering fears over Vestas’ cash position. Comment! [Energy, On the Move]
Wednesday, August 22, 2012, 8:47 AM Vestas (VWDRY.PK) cuts its full-year expectation for delivered orders and plans to lay off more workers as it scrambles to swing back to profit. The world's top manufacturer of wind turbines booked new orders with a total capacity of 945 MW in Q2, bringing its order backlog to a record €14.4B ($17.9B), but lowers its full-year target for shipped orders of turbines to 6.3 GW from 7.0 GW prior. 1 Comment [Energy, Earnings]
Tuesday, August 14, 2012, 10:51 AM The U.S. added ~6,800 MW of new wind power generation in 2011, 31% more than was added in 2010, a new Energy Department report says; U.S. wind generation now totals nearly 47K MW. Federal incentives, which have driven new wind installations, are set to expire at the end of 2012; the White House says as many as 37K U.S. jobs could be lost if the tax credits are not renewed. 21 Comments [Energy]
Monday, June 11, 2012, 12:10 PM Vestas (VWDRY.PK) CEO Ditlev Engel yesterday said the U.S. wind turbine market is expected to fall 80% in 2013, due to the looming expiry of the production tax credit (PTC) at the end of 2012. That could endanger the jobs of Vestas' 3,500 U.S. employees. Still, the prospect of the expiry has led to increased business this year. 1 Comment [Energy]
Monday, April 16, 2012, 6:37 AM Chinese firms Sinovel Wind Group Co. and Xinjiang Goldwind Science & Technology and interested in acquiring Vestas (VWDRY.PK), according to sources. The wind turbine manufacturer has suffered a series of production issues on top of weak overall demand in the sector. 2 Comments [M&A, Energy]
Thursday, January 12, 2012, 11:51 AM Vestas (VWDRY.PK) cuts 2K jobs in a bid to turn around its profitability after slumping demand swept over the market for wind energy. The Danish wind-turbine maker says the plan will reduce costs by €150M ($190.3M). Comment! [Energy, Global & FX]
Wednesday, January 4, 2012, 6:59 AM The alternative energy industry continues to struggle as Danish wind-turbine giant Vestas (VWDRY.PK) dives 18% after cutting its 2011 guidance and announcing plans for significant corporate restructuring. The company, along with rival GE, is suffering from slower demand growth, Asian competition, and subsidy cuts in Europe. 2 Comments [Energy]
Monday, January 2, 2012, 7:40 AM Owners (or prospective owners) of beleaguered solar energy companies, it might be time to prepare for more of this action in 2012: China's LDK Solar (LDK) offers to buy Germany's Sunways for €1.90/share, a near 30% premium to Friday's close. Sunways lost 63% in 2011, weighed down like most by production overcapacity coming out of Asia. 2 Comments [Energy, On the Move]
Friday, December 31, 2010, 10:49 AM French nuclear plants come to the rescue, delivering needed electricity as freezing weather causes Scotland's wind farms to seize up, producing just 2.5% of potential at a time of peak electricity demand. Scotland is officially opposed to nuclear power. 9 Comments [Global & FX]