Trina Solar Ltd

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    Consumer

    Ford and Tesla Stocks Bleed after Q2 Earnings

    On July 24, the stocks of both Ford Motor Company (F) and Tesla (TSL) bled after the companies reported their second-quarter earnings.

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    Company & Industry Overviews

    First Solar’s Components Segment Offsets Fall in Systems Revenue

    Revenue trend First Solar’s (FSLR) revenue is primarily from turn-key projects, project maintenance, project sales, PV (photovoltaic) module sales to third parties, and PPAs (power purchase agreements) for sale of electricity. In this part, we’ll examine First Solar’s financial performance. As we discussed previously, First Solar has two main business segments: Components and Systems. The design, […]

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    Company & Industry Overviews

    How India Became First Solar’s Second-Biggest Market

    India’s rising electricity demand According to the EIA’s (U.S. Energy Information Administration) 2017 International Energy Outlook, India’s electricity generation is expected to increase by 3.2% per year through 2040, to meet increasing electricity demand in rural areas. Solar outlook Even though coal is the primary fuel used for electricity generation in India, the focus on renewable […]

    By Alexis Tate
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    Company & Industry Overviews

    First Solar’s Global Market Strategy

    The Americas The US PV (photovoltaic) market made up ~83% ($2.9 billion) of First Solar’s (FSLR) revenue. The United States has typically been First Solar’s largest market, and where many of its prominent projects and customers are located. First Solar has completed the construction of Del Sur, a 26 MW (megawatt) solar project in Honduras. It commenced […]

    By Alexis Tate
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    Company & Industry Overviews

    Behind First Solar’s Operations

    Operating segments Previously, we looked at First Solar’s (FSLR) history. The photovoltaic module manufacturer operates two business segments: Components and Systems. The Components segment First Solar is a manufacturer of solar (TAN) photovoltaic (or PV) modules. First Solar also designs and sells these modules. They manufacture thin-film PVs, in which the semiconductor material used is […]

    By Alexis Tate
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    Company & Industry Overviews

    First Solar: A Key Player in the Global Solar Power Industry

    First Solar (FSLR) produces solar energy equipment. In this series, we’ll look at its performance and the outlook for the industry.

    By Alexis Tate
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    Earnings Report

    Where Does Yingli Solar’s Valuation Stand among Peers?

    As of December 9, 2016, among its major peers, Yingli Solar had the highest forward EV-to-EBITDA multiple of 14.3x.

    By Sheldon Krieger
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    Earnings Report

    Why Did Yingli Solar’s Shipments Fall in 3Q16?

    Yingli Solar (YGE) reported about 365 MW of solar (TAN) module shipments for 3Q16, as compared to 662 MW in 2Q16 and 460 MW in 3Q15.

    By Sheldon Krieger
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    Company & Industry Overviews

    How Will Restructuring Initiatives Impact SunPower?

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  • uploads///stock price
    Company & Industry Overviews

    Why SunPower Stock Rose after the Restructuring Announcement

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    By Sheldon Krieger
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    Earnings Report

    What Do Analysts Expect for Yingli Solar’s Margins in 3Q16?

    For 3Q16, analysts expect Yingli Solar to report a gross profit of about $31.0 million with a gross margin of about 12.4%, which is in line with the company’s gross margin guidance.

    By Sheldon Krieger
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    Earnings Report

    What to Expect from Yingli Solar’s 3Q16 Earnings

    Yingli (or Yingli Solar) (YGE) is set to announce its 3Q16 earnings on December 8, 2016. In this series, we’ll look at analysts’ expectations for Yingli Solar’s 3Q16 earnings.

    By Sheldon Krieger
  • uploads///capacity expansion
    Earnings Report

    A Look at Trina Solar’s Capacity Expansion and Financial Position

    Trina Solar’s interest expenses have consistently been on the rise over the last two years. For 3Q16, they were $28.6 million compared to $26.0 million in 2Q16.

    By Sheldon Krieger
  • uploads///Gross profit
    Earnings Report

    How Did Trina Solar’s Costs Affect Its Gross Margin in 3Q16?

    In 3Q16, Trina Solar (TSL) reported a gross profit of $125.6 million compared to $176.3 million in 2Q16. On a YoY basis, the company’s gross profit fell nearly 9.0%.

    By Sheldon Krieger
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    Earnings Report

    Trina Solar Missed Analysts’ 3Q16 Revenue Estimates

    In 3Q16, Trina Solar’s (TSL) consolidated revenue came in at around $741.0 million compared to analysts’ expectations of about $823.0 million.

    By Sheldon Krieger
  • uploads///Shipments
    Earnings Report

    Why Did Trina Solar’s Shipments Fall in 3Q16?

    Trina Solar (TSL) had a total module shipment guidance of 1.55–1.65 GW (gigawatts) for 3Q16. However, it reported 1.36 GW of total solar (TAN) module shipments.

    By Sheldon Krieger
  • uploads///stock
    Earnings Report

    How Did Trina Solar Stock React to Its 3Q16 Results?

    Trina Solar (TSL) announced its 3Q16 earnings results before market hours on November 23, 2016. In this series, we’ll take a look at the results and compare them with analysts’ expectations.

    By Sheldon Krieger
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    Earnings Report

    What to Expect from Canadian Solar’s Future Earnings

    Following its 3Q16 results, Canadian Solar revised down its US GAAP revenue guidance for 2016 to $2.8 billion–$2.9 billion.

    By Sheldon Krieger
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    Miscellaneous

    First Solar Will Focus on Accelerating Its Series 6 Product

    On November 16, 2016, First Solar (FSLR) announced an update on its Series 6 product transition and revised its fiscal 2016 guidance.

    By Sheldon Krieger
  • uploads///interest expenses
    Earnings Report

    What’s Canadian Solar’s Leverage and Liquidity Position?

    Canadian Solar’s interest expenses fell considerably in 2Q16 to $11.9 million from $16.1 million at the end of 1Q16.

    By Sheldon Krieger
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    Earnings Report

    What to Expect from Canadian Solar’s 3Q16 Earnings

    Canadian Solar (CSIQ) is set to announce its 3Q16 earnings results on November 21, 2016, before market hours.

    By Sheldon Krieger
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    Earnings Report

    Focusing on First Solar’s 3Q Earnings for Signs of Growth

    First Solar’s adjusted EBITDA for 3Q15 came in at $466 million. For 3Q16, analysts expect First Solar’s adjusted EBITDA to be around $120 million.

    By Sheldon Krieger
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    Company & Industry Overviews

    Can JA Solar Outperform Its Peers in Fiscal 2016?

    Analysts expect a fall in JA Solar’s revenue in 3Q16. They anticipate that consolidated revenue will fall 7% on a quarter-over-quarter basis.

    By Sheldon Krieger
  • uploads///RD expenses
    Company & Industry Overviews

    How JA Solar Benefits from High Conversion Efficiency Modules

    In October 2013, JA Solar (JASO) launched its high-efficiency monocrystalline Percium modules. These products have a record high conversion efficiency of up to 21%.

    By Sheldon Krieger
  • uploads///manufacturing capacity
    Company & Industry Overviews

    A Look at JA Solar’s Business Strategy

    JA Solar’s (JASO) future success largely depends on the ability to expand its manufacturing capacity and output.

    By Sheldon Krieger
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    Company & Industry Overviews

    The Story behind JA Solar’s Inorganic Growth

    In November 2011, JA Solar announced the acquisition of a 100% equity interest in Silver Age Holdings.

    By Sheldon Krieger
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    Earnings Report

    How Does Trina Solar Compare to Its Peers on Valuation?

    Among major upstream solar companies, First Solar (FSLR) has the lowest estimated EV-to-EBITDA multiple of 3.9x for 2016. This is followed by Trina Solar’s (TSL) estimated multiple of 6.9x.

    By Sheldon Krieger
  • uploads///guidance
    Earnings Report

    What to Expect from Trina Solar’s Future Earnings

    Analysts anticipate a decrease in gross profit and gross margin for Trina Solar. For the coming quarter, analysts anticipate that the company will report about $145 million in gross profit, which would be a ~18% decrease on a quarter-over-quarter basis.

    By Sheldon Krieger
  • uploads///shipments
    Earnings Report

    A Closer Look at Trina Solar’s 2Q16 Shipments

    Trina Solar (TSL) had given shipment guidance of 1,500 MW (megawatts) to 1,600 MW for 2Q16. However, the company reported 1,658.3 MW of solar (TAN) module shipments recognized in its revenue for 2Q16.

    By Sheldon Krieger
  • uploads///stock price
    Earnings Report

    What to Expect From First Solar’s 2Q16 Earnings

    First Solar (FSLR) is expected to announce its 2Q16 earnings results on August 4, 2016, after market hours.

    By Sheldon Krieger
  • uploads///capex
    Company & Industry Overviews

    Where Has Yingli Solar’s Inorganic Growth Come From?

    A significant portion of Yingli Solar’s (YGE) capital expenditure is confined to China (FXI).

    By Sheldon Krieger
  • uploads///RPS
    Company & Industry Overviews

    What Are Yingli Solar’s Key Performance Drivers?

    Yingli Solar’s cost performance mainly depends on the price of its key raw material, polysilicon.

    By Sheldon Krieger
  • uploads///manufacturing capacityt
    Company & Industry Overviews

    What Is Yingli Solar’s Business Strategy?

    Yingli Solar’s manufacturing capacity for modules, solar cells, wafers, and ingots stood at 4,000 MW (megawatts), 3,200 MW, 3,000 MW, respectively, at the end of 2015.

    By Sheldon Krieger
  • uploads///cost perfor
    Company & Industry Overviews

    How Did Yingli Solar’s Costs Affect Its Gross Margins?

    Yingli Solar’s (YGE) PV module manufacturing segment contributes a significant portion of its overall cost of revenue.

    By Sheldon Krieger
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    Company & Industry Overviews

    How Yingli Solar Hit Record-High Conversion Efficiency in 2015

    Conversion efficiency refers to the efficiency of a solar module to convert a portion of the sun’s energy into electricity.

    By Sheldon Krieger
  • uploads///interest expenses
    Company & Industry Overviews

    How Is Yingli Solar’s Leverage and Liquidity Position?

    As of December 31, 2015, Yingli Solar (TAN) had about $371 million in long-term debt and about $1,049 million in short-term borrowings on its books.

    By Sheldon Krieger
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    Company & Industry Overviews

    What’s Yingli Solar up Against? Inside the Company’s Key Risks

    According to Yingli Solar’s (YGE) company filings, China (FXI), Japan, and the United States were the top three markets for the company’s solar (TAN) products in 2015.

    By Sheldon Krieger
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    Earnings Report

    Analysts Expect SunPower’s Revenues to Decrease in 2Q16

    SunPower reported about $381 million in consolidated revenue for 2Q15. Analysts estimate that the company will report revenue of $339 million in 2Q16.

    By Sheldon Krieger
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    Earnings Report

    Can SunPower Beat Analysts’ Expectations in 2Q16?

    SunPower (SPWR) is expected to announce its 2Q16 earnings results on July 26, 2016, after market hours.

    By Sheldon Krieger
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    Company & Industry Overviews

    Understanding Trina Solar’s Valuation Compared to Peers: Who’s Trading at a Discount?

    Four out of 11 analysts covering Trina Solar have rated the stock a “buy.” Six have rated the stock a “hold,” and one recommends a “sell” for the stock.

    By Sheldon Krieger
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    Company & Industry Overviews

    Behind Trina Solar’s Key Performance Drivers

    Government incentives, environment regulations, seasonal changes in demand, and cost factors are among the biggest performance drivers for Trina Solar.

    By Sheldon Krieger
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    Company & Industry Overviews

    Analyzing Trina Solar’s Business Strategy

    Trina Solar’s (TSL) Manufacturing segment produces ingots, wafers, solar (TAN) cells, and PV (photovoltaic) modules.

    By Sheldon Krieger
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    Company & Industry Overviews

    If You Invest in Trina Solar, You Should Know This about Its Services and Products

    Trina Solar (TSL) offers products and services that span the entire value chain of integrated power products.

    By Sheldon Krieger
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    Company & Industry Overviews

    How Much Do Trina Solar’s Customers in the US Really Benefit from Solar Tax Credits?

    The owners of solar systems are eligible for a maximum tax credit of 30% of the investment value in the applicable solar systems before December 31, 2019.

    By Sheldon Krieger
  • uploads///global operations
    Company & Industry Overviews

    How Diversified Is Trina Solar’s Customer Base?

    Trina Solar has a strong global distribution network covering Europe, Asia, North America, Australia, and Africa.

    By Sheldon Krieger
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    Miscellaneous

    Can Renewable Energy Get Over the Clean Power Plan Hurdle?

    The Clean Power Plan could set a bigger stage for renewable energy in the energy mix of the United States. Renewable energy could outweigh energy from all fossil fuels combined by 2040.

    By Sheldon Krieger
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    Company & Industry Overviews

    SolarCity’s Potential on the Horizon

    SolarCity’s stock price gained 412% since December 2012. We’ll see if it can match its increasing market share with increased earnings.

    By Saania Malik
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    Earnings Report

    SunPower Gets Debt Level to Drop in 1H15

    SunPower is moderately leveraged. Its total debt-to-fiscal 2014 EBITDA came in at 3.8x, and its total debt-to-equity ratio came in at 0.57x.

    By Mike Sonnenberg
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    Company & Industry Overviews

    Understanding Canadian Solar’s Business Model

    A significant proportion of Canadian Solar’s revenue comes from its top five customers, a structure that’s not uncommon in the industry.

    By Saania Malik
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    Company & Industry Overviews

    Canadian Solar’s Manufacturing Business: Rising Market Share

    Canadian Solar (CSIQ) designs its standard modules for residential, commercial, and utility markets. The company offers modules of various power outputs.

    By Saania Malik
  • uploads///Spot Polysilicon Prices
    Company & Industry Overviews

    Canadian Solar’s Main Performance Drivers: A Must-Read Overview

    The factors that have the greatest impact on Canadian Solar’s (CSIQ) financial performance include government subsidies and economic incentives, industry and seasonal demand, and the cost of inputs.

    By Saania Malik
  • uploads///CSIQ Profitability Ratios of CSIQ Peers
    Company & Industry Overviews

    Measuring Profitability: Canadian Solar Outshines Peers

    To measure Canadian Solar ‘s(CSIQ) operating profitability, we took a look at its earnings before interest, tax, depreciation and amortization, or EBITDA.

    By Saania Malik
  • Canadian Solar’s Competitive Advantage
    Company & Industry Overviews

    Canadian Solar’s Competitive Advantage

    Canadian Solar (CSIQ) derives its competitive advantage from its strategic positioning in the downstream market, its broad range of crystalline silicon solar power products, and its technology.

    By Saania Malik
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    Company & Industry Overviews

    Canadian Solar: A Look at Leverage and Liquidity

    Canadian Solar (CSIQ) has a trailing-12-month debt-to-equity ratio of 0.37, which is similar to close peers Trina Solar (TSL) and ReneSola (SOL).

    By Saania Malik
  • uploads///CSIQ Annual Shipments YOY Growth
    Company & Industry Overviews

    Comparing Canadian Solar’s Technology to Industry Peers’

    For standard modules, Canadian Solar’s (CSIQ) cells have achieved a similar output to other industry operators and a conversion efficiency in line with industry averages.

    By Saania Malik
  • uploads///CSIQ Annual Rev
    Company & Industry Overviews

    Why You Should Consider Canadian Solar

    Canadian Solar (CSIQ) is vertically integrated across the solar value chain. It’s a Canada-based firm but most of its manufacturing takes place in China.

    By Saania Malik
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    Company & Industry Overviews

    SunPower: A Moderately Leveraged Solar Power Company

    As of December 28, 2014, SunPower (SPWR) had total debt of $1.18 billion—compared to $899.4 million at the end of fiscal 2013.

    By Mike Sonnenberg
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    Company & Industry Overviews

    First Solar has plenty of room to grow—but will it grow?

    There’s certainly a lot that’s positive to talk about when it comes to First Solar (FSLR), as we discussed in detail in the previous parts of this series.

    By Mike Sonnenberg
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    Company & Industry Overviews

    First Solar faces some must-know challenges

    While First Solar has traditionally been manufacturing thin-film CdTe modules, which don’t require polysilicon, their prices have fallen in recent years.

    By Mike Sonnenberg
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    Company & Industry Overviews

    First Solar’s strong Systems segment offsets a fall in Components

    In this part of our series, we’ll focus on First Solar’s (FSLR) operating and financial performance. First Solar (FSLR) has multiple revenue streams.

    By Mike Sonnenberg
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    Company & Industry Overviews

    Why India could become First Solar’s second-biggest market

    According to the US Energy Information Administration, India’s electricity demand should grow at 3.8% per year through 2040.

    By Mike Sonnenberg
  • uploads///Part  PV types
    Company & Industry Overviews

    First Solar’s place in the solar industry: The thin-film leader

    Thin-film photovoltaic cells have lower efficiency of around 12–14%. However, First Solar achieved a record 17% efficiency in March 2014.

    By Mike Sonnenberg
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    Company & Industry Overviews

    First Solar’s operations: A quick investor overview

    Headquartered in Tempe, Arizona, First Solar (FSLR) operates under two business segments: the Components segment and the Systems segment.

    By Mike Sonnenberg
  • uploads///Part  history
    Company & Industry Overviews

    First Solar: A key player in the global solar power industry

    First Solar was the first solar power company to join the S&P 500 (SPY). We’ll take a look at the company’s operations before moving on to greater details.

    By Mike Sonnenberg
  • Industrials

    Coal is losing its market share in China’s electricity generation

    Coal is the cheapest fossil fuel, but it’s also the most polluting. With its massive electricity generation capacity—mainly coal-fired—China emits the most carbon dioxide in the world.

    By Mike Sonnenberg
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