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Trina Solar (TSL) Reports In-Line Q4 EPS; Offers Q1, FY15 Shipment Outlook

March 4, 2015 6:10 AM EST
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Price: $7.15 --0%

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Trina Solar (NYSE: TSL) reported Q4 EPS of $0.13, in-line with the analyst estimate of $0.13. Revenue for the quarter came in at $705 million versus the consensus estimate of $642.88 million.

Total module shipments were 1,098.8 MW, consisting of 1,070.5 MW of external shipments and 28.3 MW of shipments to the Company's own downstream power projects. This compares with total shipments of 1,063.8 MW, consisting of 936.8 MW of external shipments and 127 MW of shipments to the Company's own downstream power projects, in the third quarter of 2014

First Quarter of 2015 Guidance

The Company expects to ship between 840 MW to 870 MW of PV modules, of which 60 MW to 70 MW of PV modules will be shipped to the Company's downstream PV projects.

Fiscal Year 2015 Guidance

2015 Manufacturing Capacity

The Company expects to achieve annualized capacity at the end of 2015:

  • Ingot production capacity of approximately 2.8 GW
  • Wafer capacity of approximately 2.3 GW
  • PV cell capacity of approximately 3.5 GW
  • Module capacity of approximately 4.8 GW

The addition of 500 MW cell and 800 MW of module capacity in 2015 will partially come from the low-cost overseas manufacturing facilities that the Company is planning to build or jointly build with local partners in select countries outside of China. The addition of wafer and ingot capacity increase mainly come from equipment update and technology advancement as well as working with domestic partners.

The Company expects total PV module shipments between 4.4 GW and 4.6 GW, of which 700 MW to 800 MW of PV modules will be shipped to the Company's downstream projects. The total shipment volume represents an increase of 20% to 26 % from 2014.

The Company expects to connect to the grid of 700 MW and 750 MW of downstream PV power projects across the world, including 30%-40% of DG projects in China.

For earnings history and earnings-related data on Trina Solar (TSL) click here.



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