- JinkoSolar Holding Co Ltd JKS reported a second-quarter FY21 revenue decline of 6.2% year-on-year to $1.227 billion, marginally beating the consensus of $1.22 billion.
- The decline was due to a decrease in the shipment of solar modules.
- Quarterly shipments of 5,203 MW were up 16.4% Y/Y and down 2.8% sequentially.
- The gross margin contracted 80 bps Y/Y to 17.1%. The operating margin contracted 60 bps to 4.5%.
- Non-GAAP EPS of $0.22 beat the consensus loss of $(0.16).
- JinkoSolar held $1.01 billion in cash and equivalents.
- Outlook: JinkoSolar sees Q3 revenue of $1.24 billion - $1.37 billion below the consensus of $1.6 billion.
- It sees total shipments of 5 GW - 5.5 GW and a gross margin of 12% - 15% for Q3.
- Price Action: JKS shares traded higher by 1.54% at $47.50 in the premarket session on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
