JA Solar Holdings (JASO) Reports Q4 EPS of $0.98, Easily Beating Views

JA Solar Holdings (NASDAQ: JASO) reported Q4 EPS of $0.98, versus $0.45 reported last year. Revenue for the quarter came in at $574.8 million versus the consensus estimate of $558.26 million.

• Total shipments were 1,416.2 megawatts (“MW”), consisting of 1,353.0 MW of modules and 58.9 MW of cells to external customers, and 4.3 MW of modules to the Company’s downstream projects. External shipments were up +5.5% y/y and up +13.8% sequentially
• Shipments of modules and module tolling were 1,353.0 MW, an increase of +4.3% y/y and +12.8% sequentially
• Shipments of cells and cell tolling were 58.9 MW, an increase of +43.0% y/y and +44.0% sequentially
• Net revenue was RMB 4.0 billion ($574.8 million), a decrease of 13.1% y/y and 4.1% sequentially
• Gross margin was 12.9%, a decrease of 420 basis points y/y and 90 basis points sequentially
• Operating profit was RMB 370.5 million ($53.4 million), compared to RMB 260.1 million ($37.5 million) in the fourth quarter of 2015, and RMB 121.4 million ($17.5 million) in the third quarter of 2016
• Net income was RMB 353.4 million ($50.9 million), compared to RMB 184.9 million ($26.6 million) in the fourth quarter of 2015, and RMB 44.1 million ($6.4 million) in the third quarter of 2016
• Earnings per diluted ADS were RMB 6.80 or $0.98, compared to RMB 3.39 or $0.49 in the fourth quarter of 2015, and RMB 0.86 or $0.12 in the third quarter of 2016
• Cash and cash equivalents were RMB 2.6 billion ($370.1 million), an increase of RMB 580.6 million ($83.6 million) during the quarter
• Non-GAAP earnings1 per diluted ADS were RMB 6.80 or $0.98, compared to RMB 3.14 or $0.45 in the fourth quarter of 2015, and RMB 0.86 or $0.12 in the third quarter of 2016

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

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