JA Solar Holdings (JASO) Misses Q3 EPS by 6c, Beats on Revenues

JA Solar Holdings (NASDAQ: JASO) reported Q3 EPS of $0.13, $0.06 worse than the analyst estimate of $0.19. Revenue for the quarter came in at $652.6 million versus the consensus estimate of $609.78 million.

Third Quarter 2017 Highlights

• Total shipments were 1,640.9 megawatts (“MW”), consisting of 1,582.5 MW of modules and 37.9 MW of cells to external customers, and 20.5 MW of modules to the Company’s downstream projects. External shipments were up 30.6% y/y and down 30.0% sequentially
• Shipments of modules were 1,582.5 MW, an increase of 31.9% y/y and a decrease of 26.3% sequentially
• Shipments of cells were 37.9 MW, a decrease of 7.3% y/y and 77.3% sequentially
• Net revenue was RMB 4.3 billion ($652.6 million), an increase of 4.3% y/y and a decrease of 27.1% sequentially
• Gross margin was 11.8%, a decrease of 200 basis points y/y and 110 basis points sequentially
• Operating profit was RMB 169.8 million ($25.5 million), compared to RMB 121.4 million ($18.2 million) in the third quarter of 2016, and RMB 255.1 million ($38.3 million) in the second quarter of 2017
• Net income was RMB 41.9 million ($6.3 million), compared to RMB 44.1 million ($6.6 million) in the third quarter of 2016, and RMB 134.6 million ($20.2 million) in the second quarter of 2017
• Earnings per diluted ADS were RMB 0.89 or $0.13, compared to RMB 0.86 or $0.13 in the third quarter of 2016, and RMB 2.87 or $0.43 in the second quarter of 2017
• Cash and cash equivalents were RMB 2.1 billion ($309.1 million), a decrease of RMB 1.2 billion ($176.9 million) during the quarter
• Non-GAAP earnings1 per diluted ADS were RMB 0.89 or $0.13, compared to RMB 0.86 or $0.13 in the third quarter of 2016, and RMB 2.87 or $0.43 in the second quarter of 2017

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

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