JA Solar Rises to Two-Year High on Bright First Quarter

JA Solar Holdings Company, Ltd. JASO is shining brightly as the week opens after beating first-quarter EPS and revenue estimates. The Shanghai-based firm lost $0.85 per share, down 325 percent year-over-year. However, it comfortably topped the Wall Street consensus of a loss of $1.03. Revenue climbed over six percent to $270 million, blowing away expectations of $226.5 million. Shipments Heat Up Shipments soared nearly 32 percent to 442.7 MW. A majority of that (248 mw) consisted of modules. Cells accounted for 189.5 MW while module and cell tolling represented 5.2 MW. CEO Rises Again On January 21, Baofang Jin replaced Dr. Peng Fang as CEO. Jin has been the company's chairman since May 2005 and executive chairman of the board since July 2009. Notably, he also served as CEO from August 2009 to January 2010. Shining Worldwide On January 30, JA Solar announced the completion of the delivery of 9.5 MW of PV modules to the Volkswagen Solar Park in Chattanooga, Tennessee. The installation consists of 33,600 high-performance, multi-crystalline silicon PV modules on 33 acres of land next to a Volkswagen VLKAY manufacturing plant. It is the largest solar installation in Tennessee and the largest at a U.S. auto factory to date. During the same month, the company commenced shipments of 35 MW of solar PV modules to Siemens SI for five solar projects in Israel. It will supply Siemens with nearly 123,000 high-efficiency polycrystalline PV and expects to complete the order in May. Two months later, in March, JA Solar commenced the delivery of 2 MW of solar modules to Jet Energy International for a solar plant in Kenitra, Morocco. At the time of the announcement, it was expected to be the largest ground mount PV plant in North Africa. Sunny Forecast The company expects to sell 410 to 430 MW during the second quarter. At the middle-ground of 420 MW, it would narrowly edge the 418 MW it sold in Q2 2012. For the year, the solar product manufacturer maintains its forecast of 1.7 to 1.9 GW, which would meet or beat the 1.7 GW it sold in 2012. Bright Day on Wall Street After dipping as low as $0.60 in December, JA Solar has risen nicely. Following a 1:5 stock split during the same month and a gradual roller-coaster ride since, the stock has jumped above $6.50 on word of its successful first quarter. JA Solar has spiked over 18 percent on Monday.