Summary Canadian Solar delivered an upbeat Q1, with the company outperforming expectations on all key metrics. Strengthening pricing, a strong project pipeline, and geographical diversification ensure a strong 2014. The company's high cost structure is a cause for worry.

Canadian Solar Had Great Q1 Results, But Is It A Buy? (CSIQ) | Seeking Alpha

And guess which company doesn't have these high cost problems..

But conditions in the Chinese solar market look like they're facing new problems. Last month, both Trina Solar and Yingli Green Energy warned that they expected lower module shipments than they'd previously anticipated. In particular, Trina said that its shipments would be about 130 megawatts lower than previous guidance, coming in at just 540 to 570 megawatts, blaming delays in setting new minimum import prices to the European Union. So far, though, it appears that both Trina Solar and Yingli Green Energy believe the problem will only result in delays rather than outright lost sales, as they've kept their module-volume guidance for the full year unchanged. Moreover, margins have improved dramatically, suggesting even greater potential for profits from the solar industry.

Trina Solar Limited (ADR) Earnings: Is Growth Back for Good? (JKS, TSL, YGE)

And now guess which Chinese solar company didn't lower quarterly expectations but confirmed them...

Over the three months to March, the company earned 37 cents a share, 34 cents higher than analysts surveyed by Thomson Reuters expected. However, revenue of $444.8 million was under an estimated $452.55 million.

Why Trina Solar (TSL) Stock Is Soaring Before the Bell - TheStreet

• Pricing and margins are developing pretty well, this bodes well for Jinko, who reports the 27th of May
• Trina did warn that shipments would come in soft, Jinko didn't
• Solar stocks have sold off way too far, pick up a few Jinko shares at $23, they won't be there for long..

Trina, which reported its third straight quarterly profit on Wednesday, said it expects second-quarter panel shipments of 950 megawatts to 1,010 MW, much higher than the 558 MW it shipped in the first quarter.

Trina Solar posts first-quarter profit, forecasts higher shipments - Yahoo Finance

Higher margins, higher shipments, what's not to like. Again, this bodes well for JKS earnings next week, especially after the shares have come down from $35 to $23 in a couple of months..

By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Solar-panel sales will increase 30% this year, a consultant said, with Chinese-based Yingli Green Energy Holding Co. slated to lead the field for the third year in a row.

Chinese solar-panel makers such as Yingli /quotes/zigman/467021/delayed/quotes/nls/yge YGE +4.46%  are forecasting the most aggressive growth in sales, NPD Solabuzz said early Tuesday in releasing a quarterly report that tracks solar-module shipments for the 20 largest suppliers.

Enlarge Image

“The top-20 module suppliers to the PV industry account for two-thirds of global shipments, and they provide the leading indicators of industry growth and pricing trends,” Ray Lian, a senior analyst at NPD Solarbuzz, said in a statement. “Assuming the leading suppliers achieve the forecasted growth rates, end-market demand in 2014 will approach 50 gigawatts.”

Yingli is projected to ship up to 4.2 gigawatts worth of solar panels this year, which would result in the company’s leading the shipment ranking for solar-panel suppliers for a third consecutive year.

Shares of Yingli fell 3.7% on Tuesday. The stock has lost 6.8% in the past 12 months.

Trina Solar Ltd.  ; Canadian Solar Inc., which has most of its production in China; ReneSola Ltd.  and JinkoSolar Holding Co. forecast the most growth in shipping, exceeding 40%.

U.S.-listed shares of Trina Solar were off 2%. Canadian Solar shares gained 2.8%. U.S.-listed shares of ReneSola and U.S.-listed shares of JinkoSolar fell 2.9% each.

Japanese panel makers Sharp Solar and Kyocera Solar Inc. are forecasting a 15% increase in shipments this year, “reflecting continued strength in the Japanese solar PV market,” NPD Solarbuzz said. Both companies enjoy strong market shares within their domestic market.

“In addition to benefiting from strong shipment growth in 2014, the top 20 module suppliers are also forecast to increase profit margins,” Lian said. “Growth is driven mainly by cost reductions in manufacturing, and lower capital expenditure on new manufacturing plants.”

Solar panel makers have, in most cases, posted profits in the fourth quarter, which had been preceded by losses. First-quarter results, however, are expected to be rockier.

The quarter is historically weak for sales, and Yingli has warned investors it sold fewer modules in the first quarter than it expected.

Yingli has blamed the drop on seasonality and delays in a project in Algeria. Trina Solar, which followed Yingli with a similar warning, blamed its difficulties on a temporary drop in sales to the European Union.

Yingli is expected to report first-quarter results on Friday. Analysts polled by FactSet expect the company to report an adjusted loss of 28 cents a share.

Trina Solar, which is slated to report Wednesday, is seen posting losses of 4 cents a share in the first quarter, and an adjusted gain of 4 cents a share.

Analysts surveyed by FactSet expect a loss of 5 cents for ReneSola, which is scheduled to report May 29. JinkoSolar is seen posting adjusted earnings of 18 cents a share in the first quarter. The company is expected to report earnings May 27.

Most Wall Street analysts have ‘hold’ ratings on Yingli and ReneSola, and “buy” ratings on Trina Solar and JinkoSolar.

Due to the depreciation of RMB against the US dollar and euro during the first quarter of 2014, the Company recorded an exchange loss of RMB137.4 million (US$22.1 million) in the first quarter of 2014, which was primarily due to a foreign currency exchange loss of RMB23.0 million (US$3.7 million) and loss in fair value change of forward contracts of RMB114.4 million (US$18.4 million), including an unrealized loss of RMB110.4 million (US$17.8 million). The Company had net exchange gain of RMB9.2 million in the fourth quarter of 2013 and net exchange loss of RMB18.7 million in the first quarter of 2013.

JinkoSolar Announces First Quarter 2014 Financial Results | Seeking Alpha

Net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders in the first quarter of 2014 was RMB9.5 million (US$1.5 million), compared with net income attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB164.3 million in the fourth quarter of 2013 and a net loss attributable to JinkoSolar Holding Co., Ltd.'s ordinary shareholders of RMB128.7 million in the first quarter of 2013.

JinkoSolar Announces First Quarter 2014 Financial Results | Seeking Alpha

We let you figure out by how much the company (which is down 7% in pre-market trading because net income didn't meet expectations) would have exceeded expectations if not for the foreign currency loss..