LDK Earnings: Beats, Raises, Stock Surges (LDK)

LDK Solar (LDK) surprised the St this morning by reporting a profiton a GAAP basis.  I don’t see a non GAAP number in the report andwasn’t seeing an indication at first glance of any large one timegains, but will update this report if that’s the case.  So on a GAAPbasis which includes one time gains and losses, the company reported Q3earnings of $0.27/share which smashed analyst estimates of a .10/loss. Revenues also beat analyst estimates, but by a small margin at $282million. 

Adding to the positive report, LDK is guiding higher and seesQ4 revenues of $280-$310 million, versus the consensus of $258.72million.

Here are some highlights from comments made by the CEO..

– wafer demand strengthening across the board and results reflect improving solar industry
– making progress in ramping operations and completed first production run of the first 5K MT train of the 15K MT plant
– company solidified finances with sale of 15% stake in the 15K MT plant
– momentum in local China solar industry
– continues to be excited about long term growth prospects of solar

Shares of LDK are up about 15% in premarket trading.

LDK Solar (LDK) Surging After Surprising With A Profit, Guides Higher


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