Yingli Green Preliminary Financial Results Are First Good News In Years
Preliminary financial results from struggling solar manufacturer Yingli Green Energy could provide the company’s first good news in years.
According to the company’s Preliminary Financial Results for First Quarter 2016, Yingli Green Energy, also known as Yingli Solar, is set to report a positive net income for the first time since the third quarter of 2011. Just last month, the company posted a net loss for 2015 in its much delayed financial results for the fourth quarter and full year 2015. Specifically, Yingli Green posted a net loss of $864.6 million, and a loss per share of $47.6. (On a non-GAAP basis, the company’s adjusted net loss was $358.2 million, at a per share loss of $19.7.)
However, in the company’s press release published this week, estimates for Yingli Green’s net income for the first quarter of 2016 turned positive, with an estimated net margin of 2.5% to 4.5%.
Yingli Green also estimates that it will report PV module shipments in the first quarter in the range of 500 MW to 510 MW, at the high end of previous guidance of 480 MW to 510 MW.
Overall gross margin for Q1’16 is expected to be in the range of 18.5% to 20.5%, a significant increase on Q4’15 thanks primarily to an increase in shipments to Japan, where the selling price of PV modules is higher than in most other markets.
Yingli Green Energy is expecting to publish its official unaudited financial results for Q1’16 before the US market opens on Tuesday, June 14.
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