Solar Stocks Pop on First Solar (FSLR) Guidance
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Solars stocks and ETF on watch after better guidance from First Solar (NASDAQ: FSLR).
For 2013, First Solar expects total module shipments to be between 1.6GW and 1.8GW and net sales of $3.8 and $4.0 billion, including approximately $3.6 billion in net sales from systems sales. Consolidated gross margin is expected to be between 20 and 22 percent. Excluding up to $10 million in restructuring expense as previously announced, diluted EPS is expected to be between $4.00 and $4.50, and consolidated operating income is expected to be between $430 and $460 million. The Company expects to generate $0.8 to $1.0 billion of operating cash flow and plans for approximately $350 to $400 million in capital expenditures in 2013. Working capital is expected to decrease by between $50 and $200 million from 2012. The Company noted that revenue recognition for the Desert Sunlight project is currently expected to begin in the second half of 2013 and conclude by late 2014. This assumption is reflected in the Company’s 2013 guidance and 2014 outlook.
*** The Street sees FY13 sales of $3.15 billion and EPS of $3.46.
Stocks:
JA Solar Holdings Co., Ltd. (NASDAQ: JASO), LDK Solar Co., Ltd. (NYSE: LDK), Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), ReneSola Ltd. (NYSE: SOL), Trina Solar Limited (NYSE: TSL), SunPower Corporation (NASDAQ: SPWR), SolarCity Corporation (NASDAQ: SCTY).
Solar ETF:
Guggenheim Solar (NYSE: TAN)
For 2013, First Solar expects total module shipments to be between 1.6GW and 1.8GW and net sales of $3.8 and $4.0 billion, including approximately $3.6 billion in net sales from systems sales. Consolidated gross margin is expected to be between 20 and 22 percent. Excluding up to $10 million in restructuring expense as previously announced, diluted EPS is expected to be between $4.00 and $4.50, and consolidated operating income is expected to be between $430 and $460 million. The Company expects to generate $0.8 to $1.0 billion of operating cash flow and plans for approximately $350 to $400 million in capital expenditures in 2013. Working capital is expected to decrease by between $50 and $200 million from 2012. The Company noted that revenue recognition for the Desert Sunlight project is currently expected to begin in the second half of 2013 and conclude by late 2014. This assumption is reflected in the Company’s 2013 guidance and 2014 outlook.
*** The Street sees FY13 sales of $3.15 billion and EPS of $3.46.
Stocks:
JA Solar Holdings Co., Ltd. (NASDAQ: JASO), LDK Solar Co., Ltd. (NYSE: LDK), Yingli Green Energy Holding Co. Ltd. (NYSE: YGE), ReneSola Ltd. (NYSE: SOL), Trina Solar Limited (NYSE: TSL), SunPower Corporation (NASDAQ: SPWR), SolarCity Corporation (NASDAQ: SCTY).
Solar ETF:
Guggenheim Solar (NYSE: TAN)
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