Trina Solar estimates lower Q1 shipments

Chinese solar company Trina Solar Ltd -estimated it shipped lower-than-expected solar modules in the first quarter due to a fall in shipments to the eurozone ahead of an agreement on a new minimum import price, Reuters reported over the weekend.

Trina Solar's shares fell nearly 4 percent in extended trading on Friday.

The firm estimated solar module shipments to be 540 to 570 megawatts (MW) in the quarter, down from its previous forecast of 670 to 700 MW.

The company maintained its full-year 2014 module shipment forecast of 3.6 to 3.8 gigawatts.

In March, Trina Solar forecast an up to 47 percent jump in full-year panel shipments due to growing demand from both Japan and its home market.

"China had soft demand in the first quarter but China is still going to be a huge market. I don't think the weak guidance changes anything at all," Stephen Simko, an analyst with MorningStar Inc, told Reuters.

"Everything is still looking good for the company. Trina is still one of the better-positioned companies in the solar industry," Simko said.

Trina Solar reported its second quarterly profit in a row in March after eight quarters of losses.

The company also raised its first-quarter gross margin estimate to between 18 percent and 20 percent, from its mid-teens forecast earlier.