Yingli to report first profitable quarter in years
Solar panels. Author: David Goehring. License: Creative Commons, Attribution 2.0 Generic
Yingli Green Energy (NYSE:YGE) said today it made a net profit in the first three months of 2016 for the first time since 2011's third quarter, with an estimated net margin of 2.5% to 4.5%.
The Chinese solar panel maker unveiled preliminary results for January-March 2016, showing module shipments of 500 MW to 510 MW. This is at the high end of the company's guidance for between 480 MW and 510 MW.
Yingli expects to report overall gross margin for the period in the range of 18.5% to 20.5%, marking a significant improvement from the final quarter of 2015. The increase mainly reflects a higher average selling price due to more shipments to Japan, where modules are generally more expensive than in other markets, the company said.
Yingli did not provide further details of its first-quarter performance. The company will release its results for the period on June 14.