Trina Solar Q2 Profit Soars; Raises 2015 Guidance For PV Module Shipments

(RTTNews) - Trina Solar Limited (TSL) reported second quarter net income to company of $40.9 million, compared to $10.7 million, previous year. Earnings per ADS were $0.42, compared to $0.14.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items. Net revenues were $722.9 million, an increase of 39.2% from the second quarter of 2014. Analysts expected revenue of $651.71 million for the quarter.

Total module shipments from manufacturing facilities were 1,231.6 MW, consisting of 1,000.7 MW of external shipments and 230.9 MW of shipments to the company's own downstream PV power projects, an increase of 30.6% year-over-year.

The company raised its guidance for 2015 total PV module shipments to 4.9 GW to 5.1 GW from its original guidance of 4.4 GW to 4.6 GW, of which 700 MW to 800 MW of PV modules will be shipped to the company's PV power projects. The total shipment volume represents an increase of 33.9% to 39.3% from 2014. The company reiterated its full-year guidance to connect to the grid between 700 MW and 750 MW of downstream PV power projects across the world,

For the third quarter 2015, the company expects to ship between 1,450 MW and 1,500 MW of PV modules, of which 170 MW to 190 MW will be shipped to the company's downstream PV projects, for which revenues will not be recognized. The company expects to connect 180 MW to 200 MW of PV projects to the grid in the third quarter of 2015.