Trina Solar Ltd. (TSL, K3KD.SG) reduced its forecast of first-quarter solar module shipments as Italy's solar regulatory revisions have hurt module demand and order flow.
Shares recently were trading down 2.4% at $26.15 premarket. The stock has gained about 21% over the past 52 weeks, as of its Monday close of $26.78 a share.
On Monday, Suntech Power Holdings Co. (STP, K3ND.SG) and First Solar Inc. (FSLR), the world's top solar panel suppliers, also warned that potential cuts in European government subsidies for solar power could lead to both lower demand and prices for their products, a combination that could hit their bottom lines.
Trina now expects solar module shipments in the range of 320 to 322 megawatts, down from its February guidance of shipment volume slightly higher than the fourth quarter's total of 351 megawatts. The company backed its full-year expectations.
The Chinese solar-products maker reported in February its fourth-quarter profit nearly tripled, easily topping expectations, on strong shipment growth.
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