Solar Stock Alert
Harris Roen, Editor
Roen Financial Report
April 11, 2013
Three companies in solar had gains today. 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 |
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| 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 |
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