Connect with us

Hi, what are you looking for?

CleanTechnica
Chinese-based solar manufacturer Trina Solar reported its third quarter earnings this week, well-and-truly missing their own shipping and revenue guidance for the quarter, but beating market analysts' expectations.

Clean Power

Trina Solar Reports Lacklustre Third Quarter, But Still Beats Analyst Expectations

Chinese-based solar manufacturer Trina Solar reported its third quarter earnings this week, well-and-truly missing their own shipping and revenue guidance for the quarter, but beating market analysts’ expectations.

Trina-SolarChinese-based solar manufacturer Trina Solar reported its 3rd quarter earnings this week, well and truly missing its own shipping and revenue guidance for the quarter, but beating market analysts’ expectations.

Trina Solar has obviously run afoul of the current malaise affecting the global solar PV market, with total solar module shipments of 1,361.2 MW for the 3rd quarter, well down on the 1,658.3 MW shipped in the 2nd quarter, the 1,703.2 MW shipped in the 3rd quarter of 2015, and even down on its own guidance provided the previous quarter of between 1,550 MW and 1,650 MW. Net revenue was similarly down, at only $125.6 million, compared with $176.3 million in the 2nd quarter of 2016 and $138.2 million in the 3rd quarter of 2015.

The slowdown was expected, though the company seems to have underestimated just how severe the slump would be. In the company’s 1st quarter earnings report, published in May of this year, the company said it expected a slowdown in the second half of the year.

Based on reported quarterly shipments, Trina Solar is sitting at around 4442.8 MW of modules shipped so far this a year while it intended to ship between 6,300 MW and 6,550 MW, meaning the company would need to ship at least 1,850 MW in the final quarter of the year to meet that target.

Unsurprisingly, therefore, Trina Solar refrained from providing any guidance for the 4th quarter in its published “Third Quarter 2016 Results” — though, that might have more to do with the company’s decision to go private, announced back in August.

“Largely as expected, we had a slowdown in the third quarter as a result of an oversupply and increasing inventory levels of modules in the market, as well as weak demand in China following a strong first half of the year as developers rushed to place orders prior to a subsidy policy adjustment,” explained Mr. Jifan Gao, Chairman and CEO of Trina Solar.

The company’s shares were relatively unaffected, a likely result of outperforming market expectations for what is turning out to be a mostly global lull (caused in part by oversupply) in the global solar market. However, a large portion of the market has possibly just accepted that Trina Solar is going private soon and is either in on the stock till the end or staying away from it.

 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Clean Power

A recent report from Greener, a Brazilian consultancy, showed that Brazil imported 4.76 gigawatts (GW) of solar PV module capacity last year. Domestic photovoltaic...

Clean Power

Trina Solar, the China leading solar PV module manufacturer announced this week that the company is going to build 15 GW module capacity in...

Cars

Welcome to the next issue of China x Cleantech, our September 2019 edition. For our full China × Cleantech history, stroll over to the “Future...

Clean Power

Two Chinese solar module manufacturers have announced major milestones in their business in India, once again highlighting the massive share of Chinese companies in...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.