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Trina Solar Q2 net revenues 29.5% better, operating income up 108.1%

Staff writer ▼ | August 19, 2015
Trina Solar announced its unaudited financial results for the second quarter of 2015. Net revenues were $722.9 million, an increase of 29.5% from the first quarter of 2015 and 39.2% from the second quarter of 2014.
Trina Solar
Trina Solar   Q2 net revenues were $722.9 million
Total module shipments from the company's 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 20.0% sequentially and 30.6% year-over-year. This compares to the company's guidance of 1,100 MW to 1,140 MW of total module shipments.

Total 121.3 MW of PV power projects connected to the grid in the second quarter, compared with the company's guidance of 65 MW to 70 MW.

Gross margin was 20.0%, compared with 18.0% in the first quarter of 2015 and 15.4% in the second quarter of 2014.

Operating income was $60.7 million, an increase of 108.1% from the first quarter of 2015 and 286.5% from the second quarter of 2014.

Net income was $43.1 million, an increase of 174.8% from the first quarter of 2015 and 317.8% from the second quarter of 2014.

Earnings per fully diluted American Depositary Share ("ADS" and each ADS represents 50 of the company's ordinary shares) were $0.42, compared with $0.16 in the first quarter of 2015 and $0.14 in the second quarter of 2014.

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.


 

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