Earnings Review and Free Research Report: Yingli Green Energy Reported Lower Shipments in Q1 FY17

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Yingli Green Energy Holding Co. Ltd (NYSE: YGE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=YGE, following the Company’s announcement of its financial results for the first quarter fiscal 2017 (Q1 FY17) on June 15, 2017. The Baoding, China-based Company’s total revenues and gross profit declined on a year-over-year basis during the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on YGE. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=YGE.

Earnings Reviewed

In Q1 FY17, Yingli Green Energy reported total net revenues of RMB1.24 billion ($179.90 million) compared to RMB2.35 billion recorded at the end of Q1 FY16. Total net revenues numbers for the reported quarter lagged behind market expectations of $186 million. Moreover, the year-over-year decrease in total net revenues was primarily attributed to the decrease of PV module shipment.

The solar power Company reported a net loss attributable to attributable to Yingli Green Energy of RMB184.45 million ($26.80 million) in Q1 FY17 against net income attributable to Yingli Green Energy of RMB79.57 million in Q1 FY16. Non-GAAP net loss for Q1 FY17 came in at RMB191.85 million ($27.87 million) versus non-GAAP net income of RMB73.25 million in Q1 FY16. Furthermore, the Company reported non-GAAP diluted loss per share of RMB1.06 ($0.15) in Q1 FY17 compared to non-GAAP diluted EPS of RMB0.40 in Q1 FY16. Moreover, loss per American Depositary Share (ADS) represented by ten ordinary shares during Q1 FY17 was $1.50 compared to Wall Street’s estimated loss per diluted ADS of $2.27.

Operating Metrics

Yingli Green Energy’s gross profit declined during Q1 FY17 to RMB61.54 million ($8.94 million) from RMB469.28 million in the past year’s comparable quarter. The Company attributed the year-over-year fall in gross profit to a decline in the selling price of the Company’s PV module in Q1 FY17. Meanwhile, gross margin for Q1 FY17 was 5.0%, compared to 20.0% in the year ago same quarter.

The Company’s total operating expenses during Q1 FY17 was RMB165.06 million ($23.98 million), down from RMB282.84 million in the prior year’s same quarter. The Company reported a loss from operations of RMB103.52 million ($15.04 million) during Q1 FY17 versus income from operations of RMB186.45 million in the last year’s same quarter.

For the reported quarter, the Company’s EBITDA came in at RMB101.30 million ($14.72 million) compared to RMB483.10 million in Q1 FY16. Furthermore, total solar module shipments declined during Q1 FY17 to 370.9 MW, from 508.1 MW in Q1 FY16.

Balance Sheet

Yingli Green Energy had cash and cash equivalent balance of RMB791.55 million ($115.00 million) as of March 31, 2017, compared to RMB891.02 million, at the close of books on March 31, 2016. The Company’s long-term borrowing as on March 31, 2017 stood at RMB2.49 billion ($361.92 million) versus RMB2.35 billion as on March 31, 2016. Furthermore, inventories balance as on March 31, 2017, was RMB1.55 billion ($225.58 million), compared to RMB1.42 billion as of March 31, 2016.

Outlook

In its guidance for Q2 FY17, Yingli Green Energy expects total solar module shipments to be in the range of 950 MW to 1,050 MW.

Stock Performance

On Thursday, June 29, 2017, the stock closed the trading session at $2.28, marginally falling 0.87% from its previous closing price of $2.30. A total volume of 23.84 thousand shares have exchanged hands. Yingli Green Energy’s stock price advanced 8.57% in the last one month and 2.70% in the past three months. The stock currently has a market cap of $39.33 million.

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