Categories Analysis, Earnings, Energy, U.S. Markets News

JinkoSolar Q3 2018 earnings fall short of market expectations

Chinese solar giant JinkoSolar (JKS) saw third-quarter revenue grow 4.3% to $974.8 million, pushing net profit to $27.5 million or $0.18 per share, as it posted its results before opening bell on Monday, Nov. 26. However, this fell below market expectations — analysts were looking for earnings of $0.61 a share on revenue of $989 million for the three-month period.

The quarter saw total solar module shipments of 2,953 MW, including 0.2 MW to the JinkoSolar’s overseas downstream segment.

As of September 30, 2018, JinkoSolar’s in-house annual silicon wafer, solar cell and solar module production capacity were 9.2 GW, 6.5 GW and 10.0 GW, respectively.

JinkoSolar now expects fourth-quarter total solar module shipments to be in the range of 3.7 GW to 4.0 GW. For the full year 2018, the Chinese firm estimates total solar module shipments to be in the range of 11.5 GW to 11.8 GW.


JinkoSolar Q3 2018 Earnings
A home roof installation in Israel (SOURCE: JinkoSolar)

Back in August, JinkoSolar had slipped as much as 27% in trade on the day it posted second-quarter results. Investors were not happy with the numbers they say, even as shipments jumped 38.7% to 2,794 MW and revenue soared 32.7% to $915.9 million.

However, earlier this month, JinkoSolar shares jumped 16.5% after reports of a reversal in policy back in China that would benefit solar firms. Earlier, the Chines govt had suggested that further production of panels might go down as it achieved targets. However, recent findings suggest that the targets may be ramped up to more than twice the initiation projection. Shares moved on the hope that the Chinese government may raise the solar capacity goal of 2020 to 210-270 gigawatts.

JinkoSolar third quarter 2018 Earnings Infographic
JinkoSolar Holding Q3 2018 Earnings Infographic


JinkoSolar, with institutions on the share registry who own 21% share liking the stock, there is hope for the solar company to do good in the long term. While risks of a ‘crowded trade’ are high in such a stock, let’s see how the solar industry performs from this quarter.

Tesla cuts prices of home solar systems to boost sales


Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Infographic: How Starbucks (SBUX) performed in Q1 2023

Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections.   Global comparable store sales increased

Earnings: Google parent Alphabet (GOOG, GOOGL) reports lower Q4 profit

Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

Add Comment
Viewing Highlight