JinkoSolar Clocks Beats Q3 Earnings Estimates Backed By Higher Shipment, Boosts FY22 Guidance

JinkoSolar Holding Co Ltd JKS reported third-quarter FY22 revenue growth of 127.8% year-on-year to $2.74 billion, beating the consensus of $2.60 billion.
Higher shipment of solar modules drove the feat.
Quarterly solar module shipments rose 117.4% Y/Y to 10,856 MW (10,286 MW for solar modules, 570 MW for cells and wafers).
The gross margin expanded 60 basis points to 15.7% due to the higher shipments of N-type modules with higher gross margins.
The operating margin was 0.3%, down 100 bps.
EPS per ADS of $0.90 beat the consensus of $0.71.
It held $2.1 billion in cash and equivalents.
Guidance: The company sees Q4 shipments of 13.0 GW - 15.0 GW.
For 2022, the shipment guidance was raised to 41.5 GW - 43.5 GW, up from 35.0 GW to 40.0 GW.
Price Action: JKS shares traded higher by 0.73% at $47.85 on the last check Friday.