Why Shares of China Ming Yang Wind Power Group Ltd Jumped Today
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of wind-turbine manufacturer China Ming Yang Wind Power Group Ltd jumped 15% today after reporting earnings.
So what: Shipments increased 57% from a year ago, to 386 MW, and revenue jumped 52%, to $196.9 million. On the bottom line, the company made a comprehensive income of $29.9 million, or $0.24 per share, a turnaround from a loss a year ago.
Now what: While the quarter was good from a production standpoint, it was also positive on the order side. The company took in 671.5 MW of new orders, and backlog now stands at 3.3 GW. China's wind market is growing at a rapid rate, and China Ming Yang Wind Power Group is one of the major beneficiaries right now.
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The article Why Shares of China Ming Yang Wind Power Group Ltd Jumped Today originally appeared on Fool.com.Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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