JA Solar Holdings (JASO) Tops Q4 EPS by 26c, Beats on Revenues

JA Solar Holdings (NASDAQ: JASO) reported Q4 EPS of $0.38, $0.26 better than the analyst estimate of $0.12. Revenue for the quarter came in at $871.79 million versus the consensus estimate of $633.72 million.

Fourth Quarter 2017 Highlights

• Total shipments were 2,205.9 megawatts (“MW”), consisting of 2,088.1 MW of modules and 102.8 MW of cells to external customers, and 15.0 MW of modules to the Company’s downstream projects. External shipments were up 55.2% y/y and 35.2% sequentially
• Shipments of modules and module tolling were 2,088.1MW, an increase of 54.3% y/y and 31.9% sequentially
• Shipments of cells and cell tolling were 102.8 MW, an increase of 74.5% y/y and 171.2% sequentially
• Net revenue was RMB 5.7 billion ($871.8 million), an increase of 42.1% y/y and 30.6% sequentially
• Gross margin was 12.2%, a decrease of 70 basis points y/y and an increase of 40 basis pointssequentially
• Operating profit was RMB 210.7 million ($32.4 million), compared to RMB 370.5 million ($56.9 million) in the fourth quarter of 2016, and RMB 169.8 million ($26.1 million) in the third quarter of 2017
• Net income was RMB 115.5 million ($17.8 million), compared to RMB 353.4 million ($54.3 million) in the fourth quarter of 2016, and RMB 41.9 million ($6.4 million) in the third quarter of 2017
• Earnings per diluted ADS were RMB 2.46 or $0.38, compared to RMB 6.80 or $1.05 in the fourth quarter of 2016, and RMB 0.89 or $0.14 in the third quarter of 2017
• Cash and cash equivalents were RMB 1.5 billion ($226.5 million), a decrease of RMB 583.3 million ($89.6 million) during the quarter
• Non-GAAP earnings1 per diluted ADS were RMB 2.46 or $0.38, compared to RMB 6.80 or $1.05 in the fourth quarter of 2016, and RMB 0.89 or $0.14 in the third quarter of 2017

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, “Overall 2017 results were largely in-line with our expectations. While net revenue grew 25% year-over-year, gross margin was negatively impacted by lower ASPs and rising material costs. Additionally, higher operating expenses led to a decline in operating profits and net income in 2017 when compared to 2016.”

Mr. Jin continued, “Despite the negative impact of the Section 201 trade case, we continue to invest in R&D to develop high-performance products to strengthen our competitive position. We are confident that our technologies, high-reliability products and balanced global footprint will continue to position JA Solar for a solid future.”

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Reading (RDI) Tops Q2 EPS by 4c
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c