By Harris Roen
Three companies in solar had gains yesterday. Duke made a significant acquisition; First Solar offered positive guidance; JinkoSolar posted an upsetting loss.
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| Duke Energy Renewables acquired two PV power projects in Southern California. Highlander Solar 1 and 2 have a combined capacity of 21 MW, and have 20-year power purchase agreements with Southern California Edison. Operations should become commercial in mid-2013. This brings Duke to more than 100 MW of generating capacity. The stock is up 18% for the year. | Press release |
| First Solar, Inc. (FSLR) | |
| First Solar announced strong guidance for 2013, beating analyst estimates. Revenues are projected to be 13%-19% above 2012 levels, and consolidated operating income should reach $430-$460 million. The stock went up 2% for the day on the news, and is up 70% for the year. | Reuters article |
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| JinkoSolar released a disappointing fourth quarter 2012 earnings report, posting a $122 million net loss. This is more than double the loss from the same quarter last year. For the fiscal year, JinkoSolar had a net loss of $248 million, reversing a net income of $43 million for the previous year. Despite this, the stock jumped 4% for the day, and is up 5% for the year. | Press release |
About the author
Harris Roen is Editor of the “ROEN FINANCIAL REPORT” by Swiftwood Press LLC, 82 Church Street, Suite 303, Burlington, VT 05401. © Copyright 2010 Swiftwood Press LLC. All rights reserved; reprinting by permission only. For reprints please contact us at cservice@swiftwood.com. POSTMASTER: Send address changes to Roen Financial Report, 82 Church Street, Suite 303, Burlington, VT 05401. Application to Mail at Periodicals Postage Prices is Pending at Burlington VT and additional Mailing offices.
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