JA Solar (JASO) Misses Q3 Earnings, Revenues Increase Y/Y
Zacks Investment Research | Nov 14, 2017 10:28PM ET
JA Solar Holdings Co., Ltd. (NASDAQ:JASO) posted third-quarter 2017 adjusted earnings of 13 cents per American Depositary Share (ADS) missing the Zacks Consensus Estimate of 18 cents by 27.8%.
Total Revenues
JA Solar’s revenues in the reported quarter were $652.6 million, comfortably surpassing the consensus mark of $610 million by 7%. The reported figure was also up 4.5% compared with the year-ago level.
Q3 Shipments
Total shipments in the third quarter of 2017 were 1,640.9 megawatts (“MW”) including 1,582.5 MW of modules and 37.9 MW of cells shipped to external customers. Consequently, external shipments surged 30.6% year over year.
The year-over-year improvement in external shipments was attributable to a 31.9% upside in module shipment, partially offset by a 7.3% decline witnessed in cells shipment.
The increase in shipments came on the back of strong demand from China, which constituted 47.3% of the quarter’s total shipment. Shipments to Europe rose to 14.1% of the total from 6.5% in the year-ago quarter. North America also witnessed a considerable growth, having contributed 17.2% to total shipments compared with 13% a year ago.
However, Asia-Pacific (excluding China) witnessed a slowdown in shipments, which constituted 16.3% of the total, reflecting a drop from 9.5% a year ago. South America too saw a decline in shipments, constituting 0.4% of the total in the reported quarter compared with 20.2% in the year-ago quarter.
JA Solar Holdings, Co., Ltd. Price, Consensus and EPS Surprise
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