Trina Solar Q4 Preview: Revenue Growth Will Continue, Margins Could Decline

For this quarter, we expect the company's revenues to grow on a year-over-year basis on the back of strong demand for panels (the company has guided shipments of over 1 GW for the quarter), although margins could decline slightly owing to a smaller mix of project sales and a possibility of higher sales to China. During Q3, the company saw revenues grow by 19% sequentially to $617 million, while gross margins expanded to 16.7% from 15.4%.