Suntech Sales and Solar Stock Performance

Suntech Power Holdings Co., Ltd (NYSE:STP), the world’s largest manufacturer of solar panels, declared preliminary Q3 numbers today. The solar sector is down, but so are markets.

Shipments of solar panels are expected to increase by 15% over the previous quarter, and revenues are expected to be north of $800 million. Gross margin is expected to be 13% and at the upper end of previous guidance for 11-13%. However, severance expenses are likely to be up to $10 million in the second half of the year. There is also the likelihood of a larger-than-anticipated foreign exchange loss due to volatility in the euro/dollar rate.

Dr. Zhengrong Shi, Suntech’s (NYSE:STP) chairman and CEO, said, “We’re pleased to achieve strong shipment and gross margin results in the third quarter in a highly competitive market. In times of rapid change in the marketplace, customers prefer to work with suppliers that are bankable, have an excellent track record and high performance products.”

Suntech (NYSE:STP) will announce its financial results for the third quarter of 2011 on November 22 at 7am EST.

Here’s how the top solar stocks (NYSE:TAN) are trading now:

  • Suntech Power Holdings Co. Ltd. (NYSE:STP): The shares recently traded at $2.68, down $0.09, or 3.25%. Its market capitalization is $483.36 million. They have traded in a 52-week range of $1.70 to $10.83. Volume today was 1,397,281 shares versus a 3-month average volume of 4,663,620 shares. The company’s trailing P/E is 3.00, while trailing earnings are $0.89 per share. About the company: Suntech Power Holdings Company Ltd produces solar cells. The Company designs, develops, manufactures and markets a variety of photovoltaic (PV) cells and modules. Suntech Power is based in China. Get the most recent company news and stock data here >>
  • First Solar, Inc. (NASDAQ:FSLR): The shares recently traded at $46.12, down $1.43, or 3.01%. Its market capitalization is $3.98 billion. They have traded in a 52-week range of $42.50 to $175.45. Volume today was 945,340 shares versus a 3-month average volume of 3,719,450 shares. The company’s trailing P/E is 7.57, while trailing earnings are $6.09 per share. About the company: First Solar, Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules. Get the most recent company news and stock data here >>
  • Yingli Green Energy Holding Co. Ltd. (NYSE:YGE): The shares recently traded at $3.61, down $0.19, or 5%. Its market capitalization is $569.08 million. They have traded in a 52-week range of $2.75 to $13.59. Volume today was 1,129,860 shares versus a 3-month average volume of 4,806,920 shares. The company’s trailing P/E is 2.13, while trailing earnings are $1.70 per share. About the company: Yingli Green Energy Holding Company Limited designs, manufactures and sells PV modules. The Company also designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a stand-alone basis. Get the most recent company news and stock data here >>
  • LDK Solar Co., Ltd. (NYSE:LDK): The shares recently traded at $3.56, down $0.19, or 5.07%. Its market capitalization is $503.61 million. They have traded in a 52-week range of $2.55 to $15.10. Volume today was 425,642 shares versus a 3-month average volume of 3,201,950 shares. The company’s trailing P/E is 1.70, while trailing earnings are $2.09 per share. About the company: LDK Solar Company, Ltd. manufactures multicrystalline solar wafers. The Company sells multicrystalline wafers globally to manufacturers of photovoltaic products including solar cells and solar modules. Solar wafers are the principal raw material used to produce solar cells which convert sunlight into electricity. Get the most recent company news and stock data here >>
  • SunPower Corporation (NASDAQ:SPWRA): The shares recently traded at $8.83, down $0.17, or 1.89%. Its market capitalization is $862.29 million. They have traded in a 52-week range of $6.60 to $23.36. Volume today was 162,832 shares versus a 3-month average volume of 697,405 shares. The company’s trailing earnings are $-3.73 per share. About the company: SunPower Corporation is an integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. Get the most recent company news and stock data here >>

Don’t Miss: Is the Solar Industry About to Experience Fierce Creative Destruction?

More from The Cheat Sheet