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Yingli Green (YGE) Reports Q1 Earnings, Beats on Revenues
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Chinese solar panel manufacturer Yingli Green Energy Holding Company Ltd. , or Yingli Solar, reported operating income of 60 cents per American Depositary Share (“ADS”) in first-quarter 2016. The Zacks Consensus Estimate was a loss of 97 cents. In the year-ago quarter too, the company had reported a loss of $1.90 per ADS.
The company’s shares gained 20% during pre-market trading.
Total revenue was $364.6 million, down 19.1% year over year. Revenues, however, surpassed the Zacks Consensus Estimate of $323 million by 12.9%.
Highlights of the Release
Total PV module shipments were 508.1 megawatts (“MW”) in the first quarter of 2016, compared with 754.2 MW in first-quarter 2015.
Gross margin in the reported quarter expanded 590 basis points year over year to 20%. Operating expenses were down 40.7% to $43.9 million from the first quarter of 2015.
Operating income in the first quarter of 2016 was $28.9 million. In the year-ago quarter, the company had reported operating loss of $10.7 million.
Interest expenses were $27.3 million in the reported quarter, compared with $38.2 million in the year-ago period.
Financial Highlights
The company had cash & cash equivalents of $85.0 million as of Mar 31, 2016, compared with of $191.5 million as of Dec 31, 2015.
Long-term debt excluding current portion was $364.4 million as of Mar 31, 2016, down from $371.4 million as of Dec 31, 2015.
Guidance
For the second quarter, Yingli Green expects PV module shipments in the range of 580–620 MW. The company expects gross margin in the second quarter to be between 18% and 20%.
Peer Releases
Solar photovoltaic (“PV”) module manufacturer, Trina Solar Ltd. (TSL - Free Report) reported earnings of 29 cents per ADS in the first quarter of 2016. The bottom line beat the Zacks Consensus Estimate of 23 cents by 26.1% and also surged 81.3% from 16 cents earned in the year-ago quarter.
ReneSola Ltd. (SOL - Free Report) reported earnings of 6 cents per ADS in the first quarter of 2016. The Zacks Consensus Estimate was a loss of 4 cents.
JA Solar Holdings Co. Ltd. posted first-quarter 2016 adjusted earnings of 36 cents per ADS, beating the Zacks Consensus Estimate of 22 cents by a wide margin of 63.6%. Earnings also surged from the year-ago figure of 13 cents by 176.9%.
Zacks Rank
Yingli Solar currently has a Zacks Rank #2 (Buy).
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Yingli Green (YGE) Reports Q1 Earnings, Beats on Revenues
Chinese solar panel manufacturer Yingli Green Energy Holding Company Ltd. , or Yingli Solar, reported operating income of 60 cents per American Depositary Share (“ADS”) in first-quarter 2016. The Zacks Consensus Estimate was a loss of 97 cents. In the year-ago quarter too, the company had reported a loss of $1.90 per ADS.
The company’s shares gained 20% during pre-market trading.
YINGLI GREEN EN Price, Consensus and EPS Surprise
YINGLI GREEN EN Price, Consensus and EPS Surprise | YINGLI GREEN EN Quote
Revenues
Total revenue was $364.6 million, down 19.1% year over year. Revenues, however, surpassed the Zacks Consensus Estimate of $323 million by 12.9%.
Highlights of the Release
Total PV module shipments were 508.1 megawatts (“MW”) in the first quarter of 2016, compared with 754.2 MW in first-quarter 2015.
Gross margin in the reported quarter expanded 590 basis points year over year to 20%. Operating expenses were down 40.7% to $43.9 million from the first quarter of 2015.
Operating income in the first quarter of 2016 was $28.9 million. In the year-ago quarter, the company had reported operating loss of $10.7 million.
Interest expenses were $27.3 million in the reported quarter, compared with $38.2 million in the year-ago period.
Financial Highlights
The company had cash & cash equivalents of $85.0 million as of Mar 31, 2016, compared with of $191.5 million as of Dec 31, 2015.
Long-term debt excluding current portion was $364.4 million as of Mar 31, 2016, down from $371.4 million as of Dec 31, 2015.
Guidance
For the second quarter, Yingli Green expects PV module shipments in the range of 580–620 MW. The company expects gross margin in the second quarter to be between 18% and 20%.
Peer Releases
Solar photovoltaic (“PV”) module manufacturer, Trina Solar Ltd. (TSL - Free Report) reported earnings of 29 cents per ADS in the first quarter of 2016. The bottom line beat the Zacks Consensus Estimate of 23 cents by 26.1% and also surged 81.3% from 16 cents earned in the year-ago quarter.
ReneSola Ltd. (SOL - Free Report) reported earnings of 6 cents per ADS in the first quarter of 2016. The Zacks Consensus Estimate was a loss of 4 cents.
JA Solar Holdings Co. Ltd. posted first-quarter 2016 adjusted earnings of 36 cents per ADS, beating the Zacks Consensus Estimate of 22 cents by a wide margin of 63.6%. Earnings also surged from the year-ago figure of 13 cents by 176.9%.
Zacks Rank
Yingli Solar currently has a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>