Yingli Green Energy Earnings: Exceeds Profit Estimate

Yingli Green Energy Holding Company Limited (NYSE:YGE) reported its results for the third quarter. Yingli Green Energy and its subsidiaries are mainly engaged in the design, development, marketing, manufacturing and installation and sale of photovoltaic products in the People’s Republic of China and overseas markets.

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Yingli Green Energy Holding Company Limited Earnings Cheat Sheet

Results: Loss widened to $152.6 million (98 cents per diluted share) from $28.3 million (loss of 18 cents per share) in the same quarter a year earlier.

Revenue: Fell 46.6% to $355.9 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Yingli Green Energy Holding Company Limited reported an adjusted net loss of 40 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 52 cents per share. It fell short of the average revenue estimate of $448.8 million.

Quoting Management: “We are pleased to see that demand in China has grown rapidly starting in the third quarter as project construction in all segments accelerated. Consequently, our revenues from China increased from 14% in the second quarter to 28% of total net revenues in the third quarter. However, the demand slowdown in Germany due to the feed in tariff cuts at the end of the second quarter caused our total module shipment in this quarter to decrease by 16.9% sequentially. Based on current orders and our expectations of the market development, we are confident to reaffirm the full year shipment guidance of 2.1 to 2.2 GW,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.

Key Stats:

The company trumped estimates last quarter after falling shy in the two quarters prior. In the second quarter, it missed the mark by 25 cents, and in the first quarter, it came in under estimates by 6 cents.

Looking Forward: For the next quarter, analysts are increasingly pessimistic about the company’s performance. The average estimates for the fourth quarter is at a loss of 51 cents per share, down from 29 cents ninety days ago. For the fiscal year, the average estimate has moved from a loss of $1.24 a share to a loss of $1.82 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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