Chinese solar panel maker Yingli Green Energy Holding Company Ltd. (NYSE:YGE) reported earnings of $14.7 million (EPS of $0.12) for the fourth quarter this morning. Analysts had been expecting EPS of $0.07, so this announcement is boosting the stock by about 3% in early trading.
For 2009, the company is sticking by its previous forecast of 550-600 megawatts in shipments, an increase of 96.1%-113.9%. That forecast also is giving a similar bump to SunPower Corp. (NASDAQ:SPWRA), First Solar Inc. (NASDAQ:FSLR), and Evergreen Solar Inc. (NASDAQ:ESLR).
Yingli’s also forecast a gross margin for 2009 of 22%-24%. That’s way up from fourth quarter gross margin of 13.2% and up a little from full-year gross margin of 21.6%.
Yingli, like its peers, seems to be expecting a turnaround in the global economy. What they base that expectation on is beyond my powers of analysis. We should hope they’re right.
Paul Ausick
February 10, 2009
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