Chinese solar maker Renesola Ltd. (NYSE: SOL) reported results this morning that missed earnings estimates, but managed to beat the estimate on revenues. Given the state of the solar panel market that’s not especially good news.
Renesola’s fourth quarter earnings loss per ADS totaled -$0.43, compared with an estimate for a loss of -$0.24. Revenue totaled $187.7 million, solidly above the consensus estimate of $146.7 million. But like Hanwha SolarOne Co. Ltd. (NASDAQ: HSOL), which reported results yesterday, Renesola posted a negative gross margin.
Renesola’s gross margin for the quarter was -23.1%, worse than the -4% gross margin of the third quarter, but much better than Hanwha’s negative gross margin of -61.8%. The company shipped 340 megawatts of wafers and modules in the fourth quarter. For the full year, Renesola shipped 1,295 megawatts of wafers and modules.
For the first quarter, the company forecast shipments of 400-420 megawatts and revenue of $180-$190 million. Gross margins won’t rise under that scenario, unless Renesola dramatically reduces costs. It looks like another tough quarter ahead.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
