LDK Solar Co. Ltd. Earnings: Here’s Why Investors are Excited Now
LDK Solar Co., Ltd. (NYSE:LDK) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.93%.
LDK Solar Co., Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-3.68 in the quarter versus EPS of $-4.63 in the year-earlier quarter.
Revenue: Decreased 32.08% to $135.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LDK Solar Co., Ltd. reported adjusted EPS loss of $3.68 per share. By that measure, the company missed the mean analyst estimate of $-0.84. It missed the average revenue estimate of $263 million.
Quoting Management: “Our business continued to be affected by the significant challenges that remained pervasive throughout the solar industry,” stated Xingxue Tong, President and CEO of LDK Solar. “Our fourth quarter results reflect the industry-wide overcapacity and resulting pressure to ASP’s and margins. Amidst these challenging market conditions, we are dedicated to working closely with our stakeholders and the relevant governmental agencies to adapt our strategy to position LDK Solar for recovery and long-term growth.
Key Stats (on next page)…