Yingli Green Energy Earnings Cheat Sheet: Demand Slows in Europe
Yingli Green Energy Holding Company Limited (NYSE:YGE) reported results for the first quarter. The Company 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. 10 Solar Stocks You Must Add to Your Investing Watch List Now>>
Yingli Green Energy Holding Company Earnings Cheat Sheet for the First Quarter
Results: Net income for Yingli Green Energy Holding Company Limited was $56.2 million (35 cents/share).
Revenue: Stood at $527.3 million.
Actual vs. Wall St. Expectations: YGE reported adjusted net income of of 38 cents/share. By that measure, the company fell short of mean estimate of 39 cents/share. Estimates ranged from 26 cents per share to 51 cents per share.
Quoting Management: “In the first quarter of 2011, we experienced a sudden demand slowdown in Europe, primarily due to the uncertainties relating to the feed-in-tariff policy change in Italy and the severe winter season conditions in Germany. However, despite a lower than expected shipment in the past quarter, we remain confident to accomplish our full year shipment guidance of 1.7 to 1.75 GW through continuously optimized global sales strategies.” Commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.
Competitors to Watch: Trina Solar Limited (NYSE:TSL), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), JA Solar Hldgs. Co., Ltd. (NASDAQ:JASO), SunPower Corporation (NASDAQ:SPWRA), First Solar, Inc. (NASDAQ:FSLR), China Sunergy Co., Ltd. (NASDAQ:CSUN), LDK Solar (NYSE:LDK), JinkoSolar Holding Co., Ltd. (NYSE:JKS), Total (NYSE:TOT), Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), BP plc (NYSE:BP) and Ascent Solar Tech., Inc. (NASDAQ:ASTI).
Stock Performance: Shares of YGE are unchanged from the previous close of $9.96.