Like most solar stocks, Trina Solar (TSL) has built momentum in the third quarter on improving fundamentals and increasing demand for solar panels. Revenue increased 24.4% from the previous quarter and a whopping 84% year-over-year. Trina was hampered by high production costs and low prices earlier in the year. But in the last three months, production costs have dropped and prices have gone up, buoying gross margins.
Key to current and future success is the company’s foothold in Japan and China, 11% and 2% of total third-quarter revenue, respectively.