JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) took a beating on Wednesday following the release of its earnings report for the third quarter of the year.
The major blow to JASO stock comes in in the form of earnings per share of 13 cents for the third quarter of 2017. This matches its earnings per share from the same period of the year prior. However, it came in well below Wall Street’s earnings per share estimate of 19 cents for the quarter.
JA Solar Holdings Co., Ltd. (ADR) also reported net income of $6.3 million in the third quarter of the year. This is down from its net income of $6.6 million that was reported in the third quarter of 2016.
Operating income for the third quarter of the year was $25.5 million. JA Solar Holdings Co., Ltd. (ADR) reported operating income of $18.2 million during the same quarter of the previous year.
Revenue of $652.60 million in the third quarter of 2017 wasn’t enough to save JASO stock on Wednesday, but it was up from the $18.20 million reported in the same time last year. It was also able to beat out analysts’ revenue estimate of $609.78 million for the third quarter of the year.
“We are seeing some uncertainties around the ongoing trade cases in the U.S. and India, which could impact global solar demand in the mid-term,” Baofang Jin, Chairman and CEO of JA Solar Holdings Co., Ltd. (ADR), said in a statement. “Additionally, accelerated capacity expansion in the industry is reshaping the competition landscape.”
JASO stock was down 14% as of noon Monday, but is up 44% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.