Based on the anticipated strong demand for solar module shipments, JinkoSolar last quarter guided solar module shipments for the fourth quarter to be between 3.7 GW and 4.0 GW. For the full year 2018, shipments are expected in the range of 11.5 GW to 11.8 GW.
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Analysts are expecting the solar firm to report earnings of $0.63 per share, which is a big jump from $0.12 recorded last year. Revenue is forecasted to see an increase of 24.5% to $1.22 billion. Investors would be hoping that the company would continue the momentum from the last quarter due to improved macros in the industry, which would be beneficial for the firm.
In the third quarter, Chinese solar giant revenues improved by 4.3% to $974.8 million, pushing net profit to $27.5 million or $0.18 per share. However, analysts were looking for earnings of $0.61 a share on revenue of $989 million. The company similar to its peers was hit by lower demand and falling solar module prices which impacted profitability for the solar energy firms.
Globally, there is improved demand for solar panels as the module prices have come down. Solar projects are going to increase in 2019 and beyond, which is a long-term growth driver for JinkoSolar. The company would also benefit from increased shipments from China, US, Europe, and Middle East regions in the near future.