Yingli Green Energy Earnings Cheat Sheet: Swung to a Loss but Topped Estimates

Despite reversing to a loss in the third quarter, Yingli Green Energy Holding Company Limited (NYSE:YGE) can hang its hat on beating Wall Street’s expectations. Yingli Green Energy 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 Third Quarter

Results: Reported a loss of $28.3 million (18 cents per diluted share) in the quarter. Yingli Green Energy Holding Company Limited had a net income of $68.2 million or 44 cents per share in the year earlier quarter.

Revenue: Rose 36% to $667.7 million from the year earlier quarter.

Actual vs. Wall St. Expectations: YGE reported adjusted net income of 14 cents per share. By that measure, the company beat the mean estimate of 3 cents per share. Analysts were expecting revenue of $662.2 million.

Quoting Management: “I’m pleased to see that we emerged stronger under the challenging market dynamics in the third quarter. With a 21.9% increase in PV module shipments in this quarter, we marked another record of quarterly shipment volumes. This was attributable to our well-recognized brand, diversified customer portfolio, strong product bankability, outstanding after-sales services, leading cost structure and cutting-edge technology,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy.

Key Stats:

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of 33 cents versus a mean estimate of net income of 29 cents per share.

Looking Forward: For the next quarter, analysts are growing pessimistic about the company’s expected results. The average estimate for the fourth quarter is now a loss of 5 cents per share, down from a profit of 22 cents ninety days ago. The average estimate for the fiscal year is 63 cents per share, down from $1.09 ninety days ago.

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), Hanwha Solarone Co Ltd (HSOL), JinkoSolar Holding Co., Ltd. (NYSE:JKS), and Ascent Solar Tech., Inc. (NASDAQ:ASTI).

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