Vertically integrated photovoltaic manufacturer Yingli Green Energy (NYSE:YGE) announced today that shipments of PV modules would be significantly higher in the fourth quarter than its previous guidance suggested.
Based on preliminary data, Yingli says module shipments will increase by approximately 40% sequentially, well above its previous guidance of percentage increases in the low teens. Full-year 2012 PV module shipments are expected to reach approximately 2.3 gigawatts, also higher than the high end of its full-year shipment guidance of 2.1 GW to 2.2 GW.
That is still well below the original guidance it gave last May when it forecast between 2.4 GW and 2.5 GW, or a 50% increase over 2011's results, but having scaled back its estimates in August, it maintained them at those levels while many of its peers went on to cut their 2012 guidance as the year progressed. Yingli Green Energy has a larger market share in China than does its domestic peers.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.