JA Solar Holdings (JASO) Misses Q4 EPS by 19c

JA Solar Holdings (NASDAQ: JASO) reported Q4 EPS of $0.49, $0.19 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $709.3 million versus the consensus estimate of $683.29 million.

• Total shipments were 1,366.2 megawatts (“MW”), consisting of 1,297.6 MW of modules and module tolling and 41.2 MW of cells and cell tolling to external customers, and 27.4 MW of modules to the Company’s downstream projects. Increase of external shipments was +40.5% y/y and +18.8% sequentially.
• Shipments of modules and module tolling were 1,297.6 MW, increases of +47.5% y/y and +20.8% sequentially
• Shipments of cells and cell tolling were 41.2 MW, decreases of 43.6% y/y and 22.3% sequentially

Manufacturing Capacity Update

As disclosed in previous quarter, JA Solar is increasing its manufacturing capacity to meet growing demand for its high quality products. The Company now expects to further expand its manufacturing capacity to 2.0 GW for wafers, 5.5 GW for cells, and 5.5 GW for modules by the end of 2016.

Business Outlook

For the first quarter of 2016, the Company expects total cell and module shipments to be in the range of 1,000 to 1,100 MW, including approximately 100 MW of module shipments to the Company’s downstream projects. Revenues will not be recognized for the modules shipped to the Company’s downstream projects as required by U.S. GAAP.

Full year 2016 shipments are expected to be in the range of 5.2 to 5.5 GW, including 250 to 300 MW of module shipments to the Company’s downstream projects.

For earnings history and earnings-related data on JA Solar Holdings (JASO) click here.

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