LDK Solar Co. Ltd. Earnings: Here’s Why the Stock is Falling 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 down 10.34%.
LDK Solar Co., Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.97 in the quarter versus EPS of $-2.00 in the year-earlier quarter.
Revenue: Decreased 51.27% to $114.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: LDK Solar Co., Ltd. reported adjusted EPS loss of $0.97 per share. By that measure, the company missed the mean analyst estimate of $-0.92. It missed the average revenue estimate of $119.2 million.
Quoting Management: “We delivered second quarter revenue that was in line with expectations and reduced our net loss both sequentially and on a year-over-year basis,” stated Sam Tong, President and CEO of LDK Solar. “We have been navigating the challenging solar industry dynamics with a focus on improving our cost structure and becoming a more nimble company. We are starting to see early signs of improvement within the PV market as ASP’s are beginning to stabilize. We are also encouraged by recent updates on solar policies from China and the EU.”
Key Stats (on next page)…