Yingli Green Energy -7% after quarterly shipments slump 48% [Seeking Alpha]
YINGLI GREEN ENERGY (YGE)
Last yingli green energy earnings: 6/15 06:21 am
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Source: Seeking Alpha
Yingli Green Energy -7% after quarterly shipments slump 48%Yingli Green Energy (YGE-7%) thuds to a 52-week low after reporting a wider than expectedQ3 loss to RMB2.3B ($355M) from a RMB335M loss a year earlier.YGE says its Q3 PV module shipments fell 48% Q/Q to 597.7 MW vs. guidance for 550-600 MW, compared to 1,146 MW in Q2.Chairman/CEO Liansheng Miao attributes the fall in quarterly shipments tolower demand from the end of H1, saying YGE tried to strike a balance between maintaining shipment volumes and ensuring that its operating cash flows remained sufficient.YGE expects Q4 PV module shipments of 700-800 MW, and raises its full year PV module shipments guidance to 2.8-2.9 GW from its previous 2.5-2.8 GW.See all stocks on the move »
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