Suntech Power Holdings Co. Ltd. Earnings Cheat Sheet: Misses Estimates With Loss

Suntech Power Holdings Co. Ltd. (NYSE:STP) reported its results for the third quarter. Suntech Power Holdings is a solar energy company. The company designs, develops, manufactures and markets a number of PV cells and modules, including a range of value-added building-integrated photovoltaics products.

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Suntech Power Holdings Earnings Cheat Sheet for the Third Quarter

Results: The company reported a loss of $116.4 million (loss of 64 cents per diluted share). Profit was $33.1 million (18 cents per share) in the same quarter a year earlier.

Revenue: Rose 9% to $809.8 million from the year earlier quarter.

Actual vs. Wall St. Expectations: STP fell short of the mean analyst estimate of a loss of 21 cents per share. It beat the average revenue estimate of $774.6 million.

Quoting Management: “Suntech’s diverse global sales channels combined with customer preference for high performance, bankable products enabled Suntech to meet our third quarter shipment and margin guidance, despite the challenging market conditions,” said Dr. Shi, Suntech’s chairman and CEO.

Key Stats:

The company has now fallen short of analyst estimates for the last three quarters. It missed the mark by 35 cents in the second quarter and by 18 cents in the third quarter of the last fiscal year.

Looking Forward: Expectations for the company’s performance in the upcoming quarter are lower than they were ninety days ago. Over the past three months, the average estimate for the fourth quarter has fallen from a profit of 20 cents per share to a loss of 20 cents. The average estimate for the fiscal year has fallen to $1.72 per share from 74 cents ninety days ago.

Competitors to Watch: Trina Solar Limited (NYSE:TSL), Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE), First Solar, Inc. (NASDAQ:FSLR), JA Solar Hldgs. Co., Ltd. (NASDAQ:JASO), SunPower Corporation (NASDAQ:SPWRA), LDK Solar Co., Ltd (NYSE:LDK), China Sunergy Co., Ltd. (NASDAQ:CSUN), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and Hanwha Solarone Co Ltd (HSOL).

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