Trina Solar (TSL) reported earnings Mon 23 Nov 15 (before open)

** charts before earnings **

**   after earnings **

Trina Solar misses by $0.07, beats on revs; raises FY15 PV shipment guidance :

Reports Q3 (Sep) earnings of $0.21 per share, $0.07 worse than the Capital IQ Consensus of $0.28; revenues rose 28.5% year/year to $792.6 mln vs the $762.6 mln Capital IQ Consensus.

• Total module shipments from the Company's manufacturing facilities were 1,703.2 MW, consisting of 1,353.2 MW of external shipments and 350.0 MW of shipments to the Company's own downstream PV power projects. Total module shipments increased 38.3% sequentially and 60.1% year-over-year.
• For Q4: The Company expects to ship between 1, 500 MW to 1, 650 MW of PV modules, of which 1, 350 MW to 1, 450 MW will be shipped to third party customers. The Company's downstream projects will obtain module supplies from its own manufacturing business or third party suppliers as the situation may require. The Company expects to connect 280 MW to 320 MW of PV projects to the grid in the fourth quarter of 2015.
• For FY15: The Company raises its full-year guidance of total PV module shipments to 5.5 GW to 5.6 GW from its original guidance of 4.9 GW to 5.1 GW, of which 4.6 GW to 4.7 GW will be shipped to third party customers. This revised guidance would represent an increase of 50.3% to 53.0% from 2014. The Company reiterates its guidance to connect to the grid between 700 MW and 750 MW of downstream PV power projects across the world, including 30% to 40% of DG projects in China.
• Update on Solyndra legal proceedings: In October 2012, the trustee of Solyndra LLC filed a lawsuit against Trina Solar and other Chinese manufacturers of photovoltaic solar panels in the U.S. District Court in California, asserting antitrust and related state-law claims against the defendants in the lawsuit. Trina Solar has entered into a settlement agreement with Solyndra on November 17, 2015, pursuant to which it has agreed to a settlement in the total amount of $45.0 million payable no later than December 31, 2015. The parties have agreed to a release of all claims and a dismissal with prejudice of the litigation against Trina Solar, and Trina Solar has not admitted to any wrongdoing or any validity to the allegations made against it in the lawsuit.
• The co also announced that its accumulative shipments since 2005 have exceeded 15 GW as of the end of Q3