China’s Trina Solar (NYSE: TSL) and Germany’s Q-Cells (QCE.DE) both released 4Q10 results this week, exhibiting the increasing gap between the burgeoning solar market in China and the leveling off of Germany’s market.
Trina’s 4Q profit increased three-fold to $145.3 million, or $1.87 per American Depository Share (ADS), up from $48.8 million, or 74 cents per ADS, a year ago.
According to Thomson Reuters I/B/E, analysts had been expecting earnings of only $1.09 per ADS.
Trina’s 4Q revenue of $641.8 million was more than double its figure for last year, and analysts, on average, had been expecting revenue of $525.3 million.
Q-Cells
The good news for the German solar company is that it returned to profitability for the first time in more than a year, following a massive reorganization, which began in 4Q09.
The company reported 4Q EBIT of EUR 27.7 million, which beat analyst expectations of EUR 24.6 million (Reuters) and improved on a loss of EUR 31 million in 3Q10.
4Q revenue decreased to EUR 387 million from EUR 967 million in 3Q, but still beat analyst expectations of EUR 381 million.
Q-Cells did not give a forecast, noting market uncertainty in the face of shrinking government subsidies. Share prices fell 7.3% following the results, but are still up about 23% from a year ago.
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