Following in the footsteps of sister peer Trina Solar (TSL), which yesterday warned first quarter shipments would drop by approximately 10%, Yingli Green Energy (YGE) warned this morning their first quarter 2011 shipments would decline in the low teen percentage from the prior quarter. Like many of Yingli's peers, the company cited increased uncertainty in Italian policy changes since early March, which did not get resolved until earlier this month. However, YGE did offer insight into the current quarter. Based on current visibility, Yingli expects volumes delayed during the first quarter will be shipped in the current quarter. As a result, second quarter shipment volumes should increase by over 30% sequentially.
Yingli also revised their gross margin expectations for the first quarter. Prior, YGE estimated gross margin would fall between 30-31%. The company now expects consolidated gross margin to range between 27-27.5%. Although core gross margin for internally produced modules
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Rhona Mitra Kelly Rowland Danica Patrick Josie Maran Leighton Meester
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