Yingli Green Energy Earnings Cheat Sheet: Revenue Grows Again by Double-Digits

Yingli Green Energy Holding Company Limited (NYSE:YGE) reported net income above Wall Street’s expectations for the second 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.

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Yingli Green Energy Holding Company Earnings Cheat Sheet for the Second Quarter

Results: Net income for Yingli Green Energy Holding Company Limited rose to $58.1 million (36 cents per share) vs. $32.1 million (21 cents per share) in the same quarter a year earlier. This marks a rise of 80.9% from the year earlier quarter.

Revenue: Rose 71% to $680.6 million from the year earlier quarter.

Actual vs. Wall St. Expectations: YGE reported adjusted net income of 34 cents per share. By that measure, the company beat the mean estimate of 30 cents per share. It beat the average revenue estimate of $615.2 million.

Quoting Management: “I’m pleased to announce that we had our best quarter ever in terms of PV module shipments, which increased by 36.6% over the previous quarter. With the significantly increased shipments, we managed not only to expand our global market share, but also to extend our sales geographies,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “The increased shipments were primarily attributable to the improved market conditions, solid management execution and our diversified customer portfolio,” Mr. Miao continued. “During Intersolar Europe in June, we saw the sign of demand recovery triggered by the drop of module price.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 83.8%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.

The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 36 cents versus a mean estimate of net income of 39 cents per share.

Competitors to Watch: Yingli Green Energy Hold. Co. Ltd (YG11), 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), Hanwha Solarone Co Ltd (HSOL), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and Ascent Solar Tech., Inc. (NASDAQ:ASTI).

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(Source: Xignite Financials)