Vestas Posts Wider Full-Year Loss, Lowers 2013 Shipment Forecast
Vestas Wind Systems A/S (OTC: VWDRY) posted a wider-than-expected full-year loss and lowered its 2013 shipment forecast.
Vestas lowered its 2013 shipment forecast to 4-5 Gigawatts of capacity, versus its earlier view of 5GW.
Vestas posted a full-year net loss of EUR963 million, versus a year-ago loss of EUR166 million. However, analysts were expecting a net loss of EUR192.4 million.
Its operating loss widened to EUR697 million in the full year, versus a year-ago loss of EUR60 million. Its revenue rose to EUR7.22 billion from EUR5.84 billion, versus analysts' estimates of EUR6.91 billion.
Vestas shares closed at $2.00 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.