JA Solar beats by $0.07, beats on revs :
- Reports Q3 (Sep) earnings of $0.13 per share, excluding non-recurring items, $0.07 better than the two analyst estimate of $0.06; revenues rose 4.0% year/year to $624.3 mln vs the $591.02 mln two analyst estimate.
- Total shipments were 1,240.9 megawatts, nearly all of which were modules and cells shipped to external customers.External shipments were up +10.1% y/y and up +0.9% sequentially (Guidance: 1400-155 MW). Gross margin was 13.8%, a decrease of 390 basis points y/y and 150 basis points sequentially.
- Outlook: For the fourth quarter of 2016, the Company expects total cell and module shipments to be in the range of 1,200 to 1,300 MW, with essentially all being external shipments. Accordingly, full year 2016 shipments are expected to range from 4.9 GW to 5.0 GW, below the Company's previous guidance of 5.2 GW to 5.5 GW.
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