JA Solar (JASO -0.3%) is not likely to keep its 16-quarter profitability streak intact, Axiom's Gordon Johnson predicts, seeing a Q3 pretax loss of $10M and warning that the company's results could deteriorate further in Q4.
• According to Axiom’s latest checks, upstream PV prices seem to have stabilized for now but the damage may have been done to the gross margins of JASO and its competitors; at least until the U.S. government concludes its Section 201 investigation, Johnson expects it to continue to support U.S. solar module prices, which currently are in the $0.32–$0.34 per watt price range.
• Johnson's Q3 forecast for JASO assumes the company's shipments will come in at 1.7 GW, at the midpoint of guidance, and that its average selling price will be "an aggressive" $0.36 per watt.
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