Boston, MA 05/21/2014 (wallstreetpr) – It was a differently positive quarter for the China-based solar panel company Trina Solar Limited (ADR) (NYSE:TSL). The company not only reported strong gains on its top and bottom lines, but also exceeded the expectation of analysts by a huge margin. As if that was not enough, the company has moved swiftly to project positively for the year and current quarter.
The Chinese solar panel maker with global operations saw significant improvement in its shipment and sales in 1Q2014. The company also enjoyed a significant boost to its bottom-line amid favorable prices. The results left no doubt that Trina Solar on the right track to meeting is self-imposed shipment and sales targets for 2014.
1Q2014 financial results
The $986 million market capped Trina Solar Limited (ADR) (NYSE:TSL) saw its 1Q2014 profit coming in at $26.5 million, translating to $0.37 per share. The latest quarter results compared with a loss of $63.7 million or $0.90 per share in the same period last year.
Revenue in the latest quarter increased 71 percent to hit $444.8 million. The strong revenue in the quarter was because of the high demand for the solar modules in the U.S., China and Japan. Although the company witnessed its 1Q sales soaring by a whopping 71 percent, Wall Street expected revenue to come in at $453 million.
Nonetheless, a profit of $0.37 per share in the latest quarter exceeded Wall Street expectation of $0.03 per share.
Looking ahead
Trina Solar Limited (ADR) (NYSE:TSL) anticipates a strong demand for solar modules across the markets that it serves. The company shipped 558MW of solar modules in 1Q. It projected shipment of between 670 and 700MW for the quarter.
In 1Q2013 the company shipped 392.6MW, but shipped 770.1MW in 4Q2013. As such, Trina experienced sequential drop in shipments between the 4Q2013 and 1Q2014. It explained that the decline was because of slowdown in demand for solar modules in China and Europe.
Trina Solar Limited (ADR) (NYSE:TSL) expects to ship between 950MW and 1.01GW of solar modules in 2Q. In full-year 2014, Trina expects to ship between 3.6 and 3.8 GW.
The company and its peers in the solar modules business continue to benefit from the regulatory measures in China, U.S. Europe and other markets that require energy companies to generate a certain percentage of their energy capacity from renewable sources such as solar and wind.
