LDK Solar Co., Ltd. (NYSE:LDK) reported net income above Wall Street’s expectations for the first quarter. LDK Solar Company, Ltd. is a solar module manufacturer. The Company sells multicrystalline and monocrystalline wafers globally to manufacturers of solar cells and modules.
LDK Solar Co Earnings Cheat Sheet for the First Quarter
Results: Net income for LDK Solar Co., Ltd. rose to $135.4 million (95 cents/share) vs. $7.2 million (6 cents/share) in the same quarter a year earlier. A substantial increase from the year earlier quarter.
Revenue: Rose more than twofold to $766.3 million YoY.
Actual vs. Wall St. Expectations: LDK beat the mean analyst estimate of 86 cents/share. Estimates ranged from 65 cents per share to $1.05 per share.
Quoting Management: “During the first quarter, we made notable progress and executed on our growth strategy while improving our margin profile. This progress was made despite seasonality in the macro environment and regulatory uncertainties in Europe,” stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
Competitors to Watch: Trina Solar Limited (NYSE:TSL), ReneSola Ltd. (NYSE:SOL), JinkoSolar Holding Co., Ltd. (NYSE:JKS), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), JA Solar Hldgs. Co., Ltd. (NASDAQ:JASO), Canadian Solar Inc. (NASDAQ:CSIQ), General Electric (NYSE:GE), First Solar, Inc. (NASDAQ:FSLR), and MEMC Electronic Materials, Inc. (NYSE:WFR).
Stock Performance: Shares of LDK are down over 4% to $6.81 per share this morning.
(Sources: YahooFinance, Xignite Financials)