FSLR missed - 未名空间MITBBS历史存档

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FSLR missed

FSLR missed# Stock

l*n2012-02-28 08:02

1 楼

Q4 EPS $1.26, consensus $1.54
reiterates 2012 EPS outlook $3.75-$4.25, consensus $4.14
lowers 2012 sales outlook to $3.5B-$3.8B from $3.7B-$4B

f*n2012-02-28 08:02

2 楼

That's a big miss. And big charges this Q.
Thin film is pretty much done here other than building current contracted
solar farms

b*e2012-02-28 08:02

3 楼

对比中国的太阳能的恶性竞争，第一太阳能还能一直保持盈利，已经很不容易。品牌效
应是中国的企业所不能比的，看看TSl中国最好的太阳能公司了，Q4财报shipment大增
，反而亏的惨不忍睹。

f*n2012-02-28 08:02

4 楼

1. Gross margin declined to 21%. Huge write off.
2. (cost per watt reduced by 2 cents to 73c per watt. ) Is this a JOKE?
Leading chinese PV manufactures reduced module cost by at least 25%-30%
through last year. Soon we will see PV module cost lower than thin film cost
per watt. At the same time, PV module remains much higher effiency (16%-18%
) vs. thin film (12%-13% for FSLR)
3. diminishing CFO: $11 mm CF from operations vs. $203 mm in Q3.
I must say it's a very ugly ER. Would have shorted this stock if the stock
price hasn't been in toilet already.

f*n2012-02-28 08:02

5 楼

Solar industry is already a commodity business. People only cares about:
1. Price
2. Warranty
3. Bank-ability (if it is easy to get financing)
Brand doesn't mean much here.
Just my 2c.

【在 b******e 的大作中提到】