Trina Solar beats by $0.16, beats on revs; Q2 module shipments top guidance; raises FY15 shipment guidance
Reports Q2 (Jun) earnings per ADS of $0.42 per share, $0.16 better than the Capital IQ Consensus Estimate of $0.26; revenues rose 39.2% year/year to $722.9 mln vs the $660.9 mln consensus.
- Total module shipments from the Company's manufacturing facilities were 1,231.6 MW (guidance was 1100-1140 MW), consisting of 1,000.7 MW of external shipments and 230.9 MW of shipments to the Company's own downstream PV power projects, an increase of 20.0% sequentially and 30.6% YoY.
- Q3 Guidance: The Company expects to ship between 1,450 MW and 1,500 MW of PV modules, of which 170 MW to 190 MW will be shipped to the Company's downstream PV projects. Co expects to connect 180 MW to 200 MW of PV projects to the grid in the third quarter of 2015.
- Co raised its guidance for 2015 total PV module shipments to 4.9 GW to 5.1 GW from its original guidance of 4.4 GW to 4.6 GW, of which 700 MW to 800 MW of PV modules will be shipped to the Company's PV power projects. The total shipment volume represents an increase of 33.9% to 39.3% from 2014.
- "China is poised to generate even greater demand as the Chinese government made renewable energy a top priority and is strongly committed to achieving its 2015 grid connection target."