JinkoSolar Q2 Revenue More Than Doubles On Solar Module Momentum

JinkoSolar Holding Co Ltd JKS reported second-quarter FY22 revenue growth of 137.6% year-on-year to $2.81 billion, beating the consensus of $2.28 billion.
Higher shipment of solar modules drove the feat.
Quarterly solar module shipments rose 102.4% Y/Y to 10,532 MW (10,183 MW for solar modules, 349 MW for cells and wafers).
The gross margin contracted 240 basis points to 14.7% due to the higher material cost of solar modules.
Loss per ADS was $(1.88). Operating margin loss was (1.5)% as it recorded an operating loss of $(43.2) million.
It held $2.15 billion in cash and equivalents.
Guidance: The company sees Q3 shipments of 9.0 GW - 10.0 GW.
For the full year of 2022, the shipments will lie between 35.0 GW - 40.0 GW.
Price Action: JKS shares traded higher by 1.88% at $59.75 in the premarket on the last check Friday.

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