JA Solar Holdings (JASO) Tops Q1 EPS by 5c; Modules Shipments Rose 4%; Offers Q2 Outlook

JA Solar Holdings (NASDAQ: JASO) reported Q1 EPS of $0.36, $0.05 better than the analyst estimate of $0.31. Revenue for the quarter came in at $538.1 million versus the consensus estimate of $499.35 million.

Highlights:

• Total shipments were 1,128.3 megawatts (“MW”), consisting of 1,038.3 MW of modules and cells to external customers, and 90.0 MW of modules to the Company’s own downstream projects. External shipments were up +52.4% y/y and down -22.4% sequentially
• Shipments of modules and module tolling were 919.4 MW, an increase of +57.4% y/y and decrease of 29.1% sequentially
• Shipments of cells and cell tolling were 118.9 MW, an increase of +22.1% y/y and +188.6% sequentially

Guidance:

For the second quarter of 2016, the Company expects total cell and module shipments to be in the range of 1,400 to 1,500 MW, including approximately 100 MW of module shipments to the Company’s downstream projects. For the full year, the Company reiterates its prior shipment guidance of 5.2 to 5.5 GW, including 250 to 300 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.

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

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