Yingli Green Energy Holding Company Limited Earnings

The Cheat Sheet

Yingli Green Energy Holding Company Limited reported its results for the fourth quarter. Yingli Green Energy and its subsidiaries are mainly engaged in the design, development, marketing, manufacturing and installation and sale of photovoltaic products in the People’s Republic of China and overseas markets.

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Yingli Green Energy Holding Company Earnings Cheat Sheet for the Fourth Quarter

Results: Net loss for the company was $599.4 million ($3.87 per share) vs. a profit of $84 million (52 cents per share) the year earlier.

Revenue: Reported $408 million.

Actual vs. Wall St. Expectations: Yingli Green Energy Holding Company Limited reported adjusted net income of 13 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 74 cents per share. It fell short of the average revenue estimate of $428.6 million.

Quoting Management: “The PV industry experienced tremendous pressure in 2011 due to supply-demand imbalance throughout the value chain. This pressure was exacerbated by incentive adjustments in major solar markets and implementation of government austerity measures in Europe. Yingli Green Energy successfully navigated the intensified competition by achieving full year 2011 module shipments of 1,603.8 MW, representing a volume increase of fifty-one percent over 2010. This increase was attributable to our differentiated market channels, strong brand and end market diversification,” commented Mr. Liansheng Miao, Chairman and Chief Executive Officer of Yingli Green Energy. “While our module shipment volume in the fourth quarter was down from the previous quarter, we strengthened our position in major markets such as Germany, China and the United States.”

Key Stats:

The company has now beaten analyst estimates for three quarters in a row. It beat the mark by 12 cents in the third quarter and by 4 cents in the second quarter.

Looking Forward: Analysts are increasingly optimistic about the company’s performance next quarter. Over the past thirty days, the average estimate for the first quarter of the next fiscal year has gone up from a loss of 18 cents per share to loss of 15 cents. For the fiscal year, the average estimate has moved down from a profit of 39 cents a share to a loss of 13 cents over the last sixty days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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