Trina Solar Ltd. (TSL) Reports In-Line Q2 EPS
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Trina Solar Ltd. (NYSE: TSL) reported Q2 EPS of $0.14, in-line with the analyst estimate of $0.14. Revenue for the quarter came in at $519.4 million versus the consensus estimate of $562.4 million.
Solar module shipments were 943.3 MW during the second quarter of 2014, compared to 558.0 MW in the first quarter of 2014, an increase of 69.1%
Third Quarter and Fiscal Year 2014 Guidance
In the third quarter of 2014 the Company expects to ship between 1,060 MW and 1,120 MW of PV modules, of which 130 MW to 150 MW will be shipped to its downstream PV projects. Revenues will not be recognized for the modules shipped to its own developed projects as required by U.S. GAAP. The Company expects its blended gross margin for 2014 to be at mid-teens in percentage terms with slightly lower gross margin expected for the third quarter of 2014.
The Company reiterates its 2014 guidance of total PV module shipments between 3.6 GW and 3.8 GW, of which 400 MW to 500 MW of PV modules will be shipped to the Company's own downstream projects. Revenues will not be recognized for the modules shipped to its own projects as required by U.S. GAAP. The Company maintains its guidance of completed downstream PV projects of between 400 MW and 500 MW for the year of 2014.
For earnings history and earnings-related data on Trina Solar Ltd. (TSL) click here.
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