Earnings Highlights - Trina Solar

LONDON, December 19, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings coverage on Trina Solar Ltd (NYSE: TSL). On November 24, 2014, the company reported its Q3 FY14 financial results (period ended September 30, 2014). Click on http://www.investor-edge.com/FreeReports to read our free earnings review on Trina Solar Ltd (Trina Solar). In Q3 FY14, the company's net revenue increased 12.5% on Y-o-Y basis. Chairman and CEO of Trina Solar, Mr. Jifan Gao stated that both of the company's module and downstream project businesses delivered good results in Q3 FY14, demonstrating its commitment to consistent revenue and profit growth for its core businesses. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Trina Solar's net revenue increased to $616.84 million from $548.39 million in Q3 FY13. However, the company's reported revenue fell short of Bloomberg analysts' forecasts of $641.00 million. Trina Solar's total shipments for Q3 FY14 stood at 1,063.8 MW, consisting of 936.8 MW of external shipments and 127 MW of shipments to the company's own downstream power projects, compared to total shipments of 774.6 MW in Q3 FY13. The company did not recognized revenues for 127 MW of internal shipments as the revenue recognition criteria as set forth in US GAAP were not met as of September 30, 2014. The company informed that the Y-o-Y increase in revenues and shipments were primarily driven by rising shipment volumes due to growing demand from key geographical regions, particularly Japan and the US, and due to greater demand from the Asia-Pacific region. The free research on TSL can be downloaded as in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Trina%20Solar&d=19-Dec-2014&s=TSL

Trina Solar's operating expenses for Q3 FY14 decreased 13.2% to $67.15 million from $77.40 million in Q3 FY13. The company's Q3 FY14 operating income increased significantly to $35.65 million from $6.03 million in Q3 FY13. Net income attributable to Trina Solar for Q3 FY14 increased to $11.49 million from $9.90 million in Q3 FY13. The company's reported net income outperformed Bloomberg analysts' forecasts of $10.54 million. The company informed that excluding the unrealized loss in foreign exchange of $16.3 million, net income was $26.9 million, or $0.34 per diluted ADS in Q3 FY14. Mr. Gao commented that despite foreign exchange fluctuations and weaker demand in Europe, the company continued to meet or exceed its financial and performance targets, particularly, the gross margin, which significantly exceeded management's guidance.

He also mentioned that in Q3 FY14, the company strengthened the competitive advantages of its module business with efforts to reduce module manufacturing costs and its emphasis on technology breakthroughs generating positive results. He also said that the company continues to leverage the synergies between its module and downstream business units and expect the resulting positive momentum to continue through the rest of this year and into next year. Sign up and read the free analyst's notes on TSL at:

http://get.Investor-Edge.com/pdf/?c=Trina%20Solar&d=19-Dec-2014&s=TSL

For Q4 FY14, Trina Solar expects to ship between 1,045 MW and 1,095 MW of PV modules, of which 40 MW to 60 MW will be shipped to its downstream PV projects. The company projects its blended gross margin for Q4 FY14 in the range of 14.5% to 15.5%.

For FY14, Trina Solar has changed its guidance of total PV module shipments to between 3.61 GW and 3.66 GW, of which 340 MW to 360 MW of PV modules will be shipped to the company's own downstream projects, from the original guidance of total 3.6 GW to 3.8 GW including 400 MW to 500 MW of shipment to its own downstream projects. Further, the company expects to complete between 330 MW and 360 MW of downstream solar projects by the end of FY14, as compared to the original guidance of 400 MW to 500 MW projects to be completed by the end of FY14. The change is primarily due to the cancellation of a 130 MW solar farm project in Inner Mongolia. Visit Investor-Edge and access the latest research on TSL at:

http://get.Investor-Edge.com/pdf/?c=Trina%20Solar&d=19-Dec-2014&s=TSL

Stock Performance  

On the day of the earnings release, November 24, 2014, Trina Solar's stock ended the session at $10.36, down 5.22%. Since then, the company's stock has mostly witnessed a downward trend. On the last close, Thursday, December 18, 2014, Trina Solar's shares finished 7.19% lower at $7.74. The company's shares vacillated between $7.71 and $8.56 during the session. A total of 9.25 million shares were traded, which was much above its three months average volume of 4.67 million shares. The company's shares have declined 10.42% in the previous three trading sessions and 23.67% in the last one month. Further, the stock has plummeted 43.38% since the beginning of 2014. Shares in Trina Solar closed below their 50-day and 200-day moving averages of $9.95 and $11.99, respectively. Furthermore, the stock traded at a PE ratio of 8.70 and has a Relative Strength Index (RSI) of 32.98.

Sneak Peek to Corporate Insider Trading 

In the last one month Trina Solar has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on TSL is available at:

http://get.Investor-Edge.com/pdf/?c=Trina%20Solar&d=19-Dec-2014&s=TSL

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

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