Trina Solar revises Q1 results down

With the Chinese photovoltaic module giant having estimated it would ship 420 to 430 MW of modules in the first three months of this year, Trina today revised that figure down to 390 to 400 MW with a possible knock-on effect for full year expectations.

On top of that reversal, the company also announced an accounts receivable hit of US$10.5 million to $11.5 million – with no further elaboration – as well as a foreign currency exchange loss of $18.5 million to $19.5 million.

The company’s statement that its prediction for a Q1 gross margin in the ‘low single digits’ was spot on as January to March yielded 1% to 3% will hardly have thrilled investors either.

Trina will announce its first quarter earnings in a conference call at 8am U.S. Eastern Time on Wednesday May 29 when it will announce whether its full year shipment guidance figure of 2 to 2.5 GW needs revising.