Loading...
Loading...
JinkoSolar Holding Co Ltd JKS reported a third-quarter FY21 revenue decline of 2.3% year-on-year to $1.33 billion, missing the consensus of $1.34 billion.
- Quarterly shipments of 4,993 MW were down 2.4% Y/Y and down 4% sequentially.
- The gross margin contracted 190 bps Y/Y to 15.1%, mainly attributable to the rise of material prices and a decline in the average selling price of solar modules.
- The operating margin contracted 490 bps to 1.3%.
- Non-GAAP earnings per ordinary share were $0.01, and non-GAAP earnings per ADS were $0.05.
- JinkoSolar held $1.14 billion in cash and equivalents.
- Outlook: JinkoSolar sees Q4 revenue of $1.8 billion - $2.2 billion, below the consensus of $2.24 billion.
- JinkoSolar sees total shipments of 7.3 GW - 8.8 GW and a gross margin of 13% - 16%.
- Price Action: JKS shares traded lower by 8.02% at $51.5 in the premarket session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
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