Skip navigation

As of Wednesday, November 25th:
The blended earnings growth rate for the S&P 500 for Q3 2009, combining actual numbers for companies that have reported, and estimates for companies yet to report rose to -13.7% from -13.8% in the previous day. As of October 1st, the earnings growth rate was at -24.7%.Of the 490 S&P 500 companies who have reported Q3, 79% beat estimates, 7% were in-line, and 14% were below estimates.  The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -13.7%. (Data provided by Thomson Reuters)

LATEST EARNINGS RESULTS


Current DateTime: 04:40:25 25 Nov 2009
LinksList Documentid: 29017166
Expiration DateTime: 11/25/2009 4:42:26 PM

Current DateTime: 04:40:26 25 Nov 2009
LinksList Documentid: 24355697
  • Runway Angels

      The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.

  • Smartphone Guide

      Here's a need-to-know guide to nine devices, based on features, price, network and platform.

  • Wines for the Holidays

      Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES


Current DateTime: 04:40:26 25 Nov 2009
LinksList Documentid: 33793611
  • How Well Do You Know Your Bird?

      Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.

  • A Healthier & Wealthier You

      Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.

  • The Billionaire BFF's

      Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?


Current DateTime: 04:40:26 25 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
LDK Solar Shares Leap; Earnings Soar Past Forecasts
By: Reuters | 11 Aug 2008 | 06:38 PM ET
Text Size

LDK Solar on Monday posted quarterly earnings that blew past Wall Street estimates as a manufacturing capacity expansion allowed the company to sell more solar wafers, sending its shares up 18 percent in extended trade.

The Chinese solar power company [LDK  Loading...      ()   ] also raised its revenue and wafer shipment forecasts for the year.

Second-quarter net income rose to $149.5 million, or $1.29 per American Depositary Share, from $49.8 million, or 45 cents per ADS, a year ago.

Excluding the change in fair value of prepaid forward contracts, the company earned 82 cents a share, according to Reuters Estimates. Wall Street analysts had been expecting earnings of about 40 cents a share.

LDK and other solar power companies have enjoyed rapid growth in the last year as rising fossil fuel prices and concerns about global warming have spurred demand for renewable energy sources.

In recent months, however, investors have shunned solar stocks due to fears that an expected pullback in Spain's generous government subsidies for solar power would hamper demand next year.

ThinkPanmure analyst Peter Peng said much of the second-quarter demand for LDK's solar wafers likely came from Spanish solar system installers who are scrambling to finish projects before a new cap on subsidies goes into effect.

"There is a pull for the Spanish integrators to get projects in by September, but even beyond that most of these solar companies are seeing very, very strong demand for 2009," Peng said. "There is a possibility that Germany, Italy and potentially France and other smaller markets could offset the loss of market size in Spain."

More Capacity, More Sales

LDK's second-quarter revenue was $441.7 million, well above the company's May forecast of $278 million to $288 million. Analysts were expecting $288 million, on average, according to Reuters Estimates.

LDK raised its full-year revenue outlook to between $1.65 billion and $1.75 billion. It had previously expected revenue of $1.08 billion to $1.18 billion for 2008.

"We experienced substantial revenue growth during the second quarter as our wafer capacity expansion exceeded our expectations," LDK Chairman and Chief Executive Xiaofeng Peng said in a statement, adding that construction of LDK's polysilicon plants remained on schedule.

Polysilicon is the solar industry's key raw material, and prices have soared in recent years due to booming demand.

To help offset those higher costs, LDK is currently building its own polysilicon production plant adjacent to its solar wafer facility in Xinyu City, China.

For the full year, LDK said wafer shipments are expected to be between 750 megawatts and 770 MW, up from a previous forecast of 560 MW to 580 MW for the year.

The company's 2008 gross margin forecast was unchanged at between 23 percent and 28 percent.

LDK shares rose to $39.76 after closing up 9 cents at $33.58 on the New York Stock Exchange.

Copyright 2009 Reuters. Click for restrictions.
Tools:
Print EmailAdd This share icon

Current DateTime: 04:40:26 25 Nov 2009
LinksList Documentid: 29016957
Expiration DateTime: 11/25/2009 4:41:57 PM

Current DateTime: 04:40:26 25 Nov 2009
LinksList Documentid: 29017287
Expiration DateTime: 11/25/2009 4:41:27 PM


Current DateTime: 12:56:54 25 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 10:38:03 25 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 04:32:22 25 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 10:38:03 25 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters