Renesola (SOL) Thursday reported a Q1 loss that was wider-than-expected on revenues above Street views and issued downside Q2 revenue guidance. The solar-power project company traded up 19.1% pre-bell.
Renesola reported a loss of $1.16 per American depositary share, wider than the $1.08 Street view of two analysts compiled by Capital IQ. A year ago the company reported a gain of $0.06.
The company reported Q1 revenues of $156.6 million, compared to the Street view of $143.2 million, and also above its Q1 revenue guidance of $130.0 million to $150.0 million.
In outlook, the company said it expected Q2 revenues of $180 million to $200 million, well below the Street view of $247.0 million, but full-year revenues of $900 to $1 billion, compared to the Street view of $913.0 million.
Renesola slated an 8:30 am ET conference call.