Solar module encapsulant materials specialist, Solutia has guided lower revenue for the third quarter on the back of weaker than expected demand across its served markets including PV module manufacturing. Despite fallen module prices, PV installations have not rebounded to the degree envisioned and overcapacity remains an issue, reducing material demand.
“Coming out of the second quarter, we expected that sales volumes in our key product lines would experience growth in the back half of 2011 versus the first half of the year,” noted Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. “Unfortunately, we have not seen an improved volume pattern develop, and the self-fulfilling nature of lower economic expectations associated with continued volatility in financial markets over the past month has impacted the company's outlook for the remainder of the year.”
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
Solutia said it expects to generate EPS in the range of $.89 to $.99 in the back half of 2011 with approximately 45% of that expected in the third quarter and 55% in the fourth quarter, which translates to an increase in EPS of 24-31% from 2010.
