Yingli, A Solar Beat (YGE)

Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) was indicated higher after earnings, but the trading volume is still too thin to make a judgment.  Yingli looks like it is about to join other solar stocks shaking off the news.  With an $11.25 price, the 52-week range is $8.31 to $19.11.

Yingli reported a profit of about $32.1 million and non-GAAP earnings were $0.25 EPS.  Revenue rose 80% to $398.1 million.  Thomson Reuters consensus was $0.19 EPS and $371 million in revenues.  Gross margin rose to a record 33.5% versus 19.8% from a year ago.

As of June 30, Yingli had $601.5 million in cash and equivalents and it had working capital of $89.9 million.

The solar company also reaffirmed its PV module shipment targets for growth of 80.8% to 90.4% for a total of 950 MW to 1 GW for fiscal year 2010.  Yingli also boosted its gross margin target to a range of 28% to 30% from a prior 2010 target of 27% to 29%.

Shares are indicated in a broad range from $11.25 to $11.50 in the pre-market session with about two hours until the market opens.

JON C. OGG