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JA Solar's (JASO) Q4 Earnings and Revenues Beat Estimates
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JA Solar Holdings Co., Ltd. posted fourth-quarter 2017 adjusted earnings of 38 cents per American Depositary Share (ADS), beating the Zacks Consensus Estimate of 6 cents by a whopping 533%. The reported figure, however, reflected an annual decline of 61.2%.
Total Revenues
JA Solar’s revenues in the reported quarter were $872 million, surpassing the Zacks Consensus Estimate of $647 million by 34.8%. The reported figure also soared 51.7% from the year-ago level.
JA Solar Holdings, Co., Ltd. Price, Consensus and EPS Surprise
Total shipments in the fourth quarter were 2,205.9 megawatts (MW) including 2,088.1 MW of modules and 102.8 MW of cells shipped to external customers. Consequently, external shipments surged 55.2% year over year.
The year-over-year improvement in external shipments was attributable to a 54.3% and 74.5% upside in module and in cells shipments, respectively.
The increase in shipments came on the back of strong demand from North America, which constituted 24.5% to total shipment compared with 7.4% a year ago. Moreover, Europe shipments constituted 7.3% of the total, reflecting an increase from 3.3% a year ago.
However, South America saw a decline in shipments, constituting 0.2% of the total compared with 5.6% in the year-ago quarter. Also, China, which constituted 43.3% of the quarter’s total shipment, reflected a decline from the year-ago quarter’s figure of 58%. Shipments to Asia-Pacific (excluding China) were 21.7% of the total shipment, down from that of 25.2% in first quarter of 2017.
Highlights of the Release
Gross profits were $106.3 million, up 34.2% year over year. Gross margin contracted 70 basis points year over year to 12.2%.
Total operating expenses of $73.9 million represent 8.5% of total revenues. Operating profit was $32.4 million, down 43.2% from the year-ago quarter.
Interest expenses totaled $12 million, up from $11.2 million a year ago.
Financial Condition
At the end of the reported quarter, JA Solar had cash and cash equivalents of $226.5 million compared with $370.1 million at 2016-end. As of Dec 31, 2017, total long-term borrowings were $316.8 million compared with $464.7 million as of Dec 31, 2016.
ReneSola Ltd. (SOL - Free Report) reported earnings of 4 cents per ADS in the fourth quarter of 2017, beating the Zacks Consensus Estimate by a penny.
JinkoSolar Holding (JKS - Free Report) reported fourth-quarter 2017 earnings per ADS of 12 cents, which missed the Zacks Consensus Estimate of 23 cents by 47.8%.
First Solar (FSLR - Free Report) incurred fourth-quarter 2017 adjusted loss of 25 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 32 cents by 21.9%.
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JA Solar's (JASO) Q4 Earnings and Revenues Beat Estimates
JA Solar Holdings Co., Ltd. posted fourth-quarter 2017 adjusted earnings of 38 cents per American Depositary Share (ADS), beating the Zacks Consensus Estimate of 6 cents by a whopping 533%. The reported figure, however, reflected an annual decline of 61.2%.
Total Revenues
JA Solar’s revenues in the reported quarter were $872 million, surpassing the Zacks Consensus Estimate of $647 million by 34.8%. The reported figure also soared 51.7% from the year-ago level.
JA Solar Holdings, Co., Ltd. Price, Consensus and EPS Surprise
JA Solar Holdings, Co., Ltd. Price, Consensus and EPS Surprise | JA Solar Holdings, Co., Ltd. Quote
Q4 Shipments
Total shipments in the fourth quarter were 2,205.9 megawatts (MW) including 2,088.1 MW of modules and 102.8 MW of cells shipped to external customers. Consequently, external shipments surged 55.2% year over year.
The year-over-year improvement in external shipments was attributable to a 54.3% and 74.5% upside in module and in cells shipments, respectively.
The increase in shipments came on the back of strong demand from North America, which constituted 24.5% to total shipment compared with 7.4% a year ago. Moreover, Europe shipments constituted 7.3% of the total, reflecting an increase from 3.3% a year ago.
However, South America saw a decline in shipments, constituting 0.2% of the total compared with 5.6% in the year-ago quarter. Also, China, which constituted 43.3% of the quarter’s total shipment, reflected a decline from the year-ago quarter’s figure of 58%. Shipments to Asia-Pacific (excluding China) were 21.7% of the total shipment, down from that of 25.2% in first quarter of 2017.
Highlights of the Release
Gross profits were $106.3 million, up 34.2% year over year. Gross margin contracted 70 basis points year over year to 12.2%.
Total operating expenses of $73.9 million represent 8.5% of total revenues. Operating profit was $32.4 million, down 43.2% from the year-ago quarter.
Interest expenses totaled $12 million, up from $11.2 million a year ago.
Financial Condition
At the end of the reported quarter, JA Solar had cash and cash equivalents of $226.5 million compared with $370.1 million at 2016-end. As of Dec 31, 2017, total long-term borrowings were $316.8 million compared with $464.7 million as of Dec 31, 2016.
Zacks Rank
JA Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
ReneSola Ltd. (SOL - Free Report) reported earnings of 4 cents per ADS in the fourth quarter of 2017, beating the Zacks Consensus Estimate by a penny.
JinkoSolar Holding (JKS - Free Report) reported fourth-quarter 2017 earnings per ADS of 12 cents, which missed the Zacks Consensus Estimate of 23 cents by 47.8%.
First Solar (FSLR - Free Report) incurred fourth-quarter 2017 adjusted loss of 25 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 32 cents by 21.9%.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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