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Yingli Green (YGE) Posts Q2 Earnings, Misses on Revenues
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Chinese solar panel manufacturer, Yingli Green Energy Holding Company Ltd. , also known as Yingli Solar, reported operating income of 90 cents per American Depositary Share (“ADS”) in second-quarter 2016. The Zacks Consensus Estimate was a loss of 30 cents. Moreover, in the year-ago quarter, the company had reported a loss of $5.30 per ADS.
Revenues
Total revenue was $379.8 million, down 7.1% year over year. Revenues also missed the Zacks Consensus Estimate of $424 million by 10.4%.
Highlights of the Release
Total PV module shipments were 662.0 megawatts (“MW”) in the second quarter of 2016, compared with 727.9 MW in second-quarter 2015.
Gross margin in the reported quarter expanded 1190 basis points year over year to 18.2%. Operating expenses were down 13.6% to $45.4 million.
Operating income in the second quarter of 2016 was $23.8 million. In the year-ago quarter, the company had reported operating loss of $28.8 million.
Interest expenses were $23.9 million in the reported quarter, compared with $39.1 million in the year-ago period.
The company had cash & cash equivalents of $89.8 million as of Jun 30, 2016, compared with of $191.5 million as of Dec 31, 2015.
Long-term debt, excluding current portion, was $387.0 million as of Jun 30, 2016, up from $371.4 million as of Dec 31, 2015.
Guidance
For the third quarter, Yingli Green expects PV module shipments in the range of 300–400 MW. The company expects gross margin in the third quarter to be 12.5–14%.
A Peer Release
JA Solar Holdings Co. Ltd. posted second-quarter 2016 adjusted earnings of 30 cents per diluted American Depositary Share (ADS), missing the Zacks Consensus Estimate of 59 cents by a wide margin of 49.2%. Earnings, however, improved from the year-ago figure of 27 cents by 11.1%.
Upcoming Peer Releases
ReneSola Ltd. (SOL - Free Report) is scheduled to report second-quarter results on Aug 24.
JinkoSolar Holding Co., Ltd. (JKS - Free Report) is scheduled to report second-quarter results on Aug 25.
Zacks Rank
Yingli Solar currently has a Zacks Rank #3 (Hold).
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Yingli Green (YGE) Posts Q2 Earnings, Misses on Revenues
Chinese solar panel manufacturer, Yingli Green Energy Holding Company Ltd. , also known as Yingli Solar, reported operating income of 90 cents per American Depositary Share (“ADS”) in second-quarter 2016. The Zacks Consensus Estimate was a loss of 30 cents. Moreover, in the year-ago quarter, the company had reported a loss of $5.30 per ADS.
Revenues
Total revenue was $379.8 million, down 7.1% year over year. Revenues also missed the Zacks Consensus Estimate of $424 million by 10.4%.
Highlights of the Release
Total PV module shipments were 662.0 megawatts (“MW”) in the second quarter of 2016, compared with 727.9 MW in second-quarter 2015.
Gross margin in the reported quarter expanded 1190 basis points year over year to 18.2%. Operating expenses were down 13.6% to $45.4 million.
Operating income in the second quarter of 2016 was $23.8 million. In the year-ago quarter, the company had reported operating loss of $28.8 million.
Interest expenses were $23.9 million in the reported quarter, compared with $39.1 million in the year-ago period.
YINGLI GREEN EN Price, Consensus and EPS Surprise
YINGLI GREEN EN Price, Consensus and EPS Surprise | YINGLI GREEN EN Quote
Financial Highlights
The company had cash & cash equivalents of $89.8 million as of Jun 30, 2016, compared with of $191.5 million as of Dec 31, 2015.
Long-term debt, excluding current portion, was $387.0 million as of Jun 30, 2016, up from $371.4 million as of Dec 31, 2015.
Guidance
For the third quarter, Yingli Green expects PV module shipments in the range of 300–400 MW. The company expects gross margin in the third quarter to be 12.5–14%.
A Peer Release
JA Solar Holdings Co. Ltd. posted second-quarter 2016 adjusted earnings of 30 cents per diluted American Depositary Share (ADS), missing the Zacks Consensus Estimate of 59 cents by a wide margin of 49.2%. Earnings, however, improved from the year-ago figure of 27 cents by 11.1%.
Upcoming Peer Releases
ReneSola Ltd. (SOL - Free Report) is scheduled to report second-quarter results on Aug 24.
JinkoSolar Holding Co., Ltd. (JKS - Free Report) is scheduled to report second-quarter results on Aug 25.
Zacks Rank
Yingli Solar currently has a Zacks Rank #3 (Hold).
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 >>