Chinese solar panel manufacturer, Yingli Green Energy Holding Company Ltd. , also known as Yingli Solar, reported adjusted net loss of $1.47 per American Depositary Share (ADS) in first-quarter 2017, narrower than the Zacks Consensus Estimate of a loss of $2.27. Notably, the company had posted earnings of 60 cents per ADS in the year-ago quarter.
Revenues
Total revenue was $179.9 million, down 50.7% year over year. Revenues also missed the Zacks Consensus Estimate of $186 million by 3.3%.
Highlights of the Release
Total photovoltaic (PV) module shipments were 370.9 megawatts (“MW”) in first-quarter 2017, compared with 508.1 MW in first-quarter 2016.
Gross margin in the reported quarter deteriorated a whooping 1500 basis points year over year to 5.0%. Operating expenses were down 45.3% to $24 million.
Operating loss in first-quarter 2017 was $15 million against the year-ago quarter’s operating income of $28.9 million.
Interest expenses were $22.7 million in the reported quarter compared with $27.3 million in the year-ago period.
Financial Highlights
The company had cash & cash equivalents of $60.6 million as of Mar 31, 2017 compared with $125.1 million as of Dec 31, 2016.
Long term debt, excluding current portion, was $361.9 million as of Mar 31, 2017, down from $363.5 million as of Dec 31, 2016.
Guidance
For second-quarter 2017, Yingli Green expects PV module shipments in the range of 950–1,050 MW. Earlier, the company announced its expectation for shipments in the range of 2.1–2.2 GW for the full year.
Peer Releases
First Solar Inc. (FSLR - Free Report) reported first-quarter 2017 earnings of 25 cents a share. The Zacks Consensus Estimate was pegged at a loss of 13 cents. The reported number declined 84.9% from the prior-year figure of $1.66.
SunPower Corp. (SPWR - Free Report) reported first-quarter 2017 loss of 42 cents per share, narrower than the Zacks Consensus Estimate of a loss of 66 cents. In the year-ago period, the company had posted a loss of 42 cents.
JA Solar Holdings Co., Ltd. posted first-quarter 2017 adjusted earnings of 3 cents per diluted American Depositary Share (ADS). The Zacks Consensus Estimate was pegged at a loss of 2 cents. Earnings declined 91.2% from 34 cents in the year-ago period.
Zacks Rank
Yingli Green currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Chinese solar panel manufacturer, Yingli Green Energy Holding Company Ltd. , also known as Yingli Solar, reported adjusted net loss of $1.47 per American Depositary Share (ADS) in first-quarter 2017, narrower than the Zacks Consensus Estimate of a loss of $2.27. Notably, the company had posted earnings of 60 cents per ADS in the year-ago quarter.
Revenues
Total revenue was $179.9 million, down 50.7% year over year. Revenues also missed the Zacks Consensus Estimate of $186 million by 3.3%.
Highlights of the Release
Total photovoltaic (PV) module shipments were 370.9 megawatts (“MW”) in first-quarter 2017, compared with 508.1 MW in first-quarter 2016.
Gross margin in the reported quarter deteriorated a whooping 1500 basis points year over year to 5.0%. Operating expenses were down 45.3% to $24 million.
Operating loss in first-quarter 2017 was $15 million against the year-ago quarter’s operating income of $28.9 million.
Interest expenses were $22.7 million in the reported quarter compared with $27.3 million in the year-ago period.
Financial Highlights
The company had cash & cash equivalents of $60.6 million as of Mar 31, 2017 compared with $125.1 million as of Dec 31, 2016.
Long term debt, excluding current portion, was $361.9 million as of Mar 31, 2017, down from $363.5 million as of Dec 31, 2016.
Guidance
For second-quarter 2017, Yingli Green expects PV module shipments in the range of 950–1,050 MW. Earlier, the company announced its expectation for shipments in the range of 2.1–2.2 GW for the full year.
Peer Releases
First Solar Inc. (FSLR - Free Report) reported first-quarter 2017 earnings of 25 cents a share. The Zacks Consensus Estimate was pegged at a loss of 13 cents. The reported number declined 84.9% from the prior-year figure of $1.66.
SunPower Corp. (SPWR - Free Report) reported first-quarter 2017 loss of 42 cents per share, narrower than the Zacks Consensus Estimate of a loss of 66 cents. In the year-ago period, the company had posted a loss of 42 cents.
JA Solar Holdings Co., Ltd. posted first-quarter 2017 adjusted earnings of 3 cents per diluted American Depositary Share (ADS). The Zacks Consensus Estimate was pegged at a loss of 2 cents. Earnings declined 91.2% from 34 cents in the year-ago period.
Zacks Rank
Yingli Green currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for those who make the right trades early.See Zacks' Top 3 Stocks to Ride This Space >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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