— ReneSola (NYSE: SOL) reported its fourth quarter 2019 earnings of $0.09 per share vs. $0.02 per share expected.
— Revenue was $26.5 million in the fourth quarter of 2019 vs. $44.8 million expected.
— ReneSola generated $21.1 million of revenue from the Project Development business and $4.1 million from the IPP business, primarily from the sale of electricity in China.
— Net loss attributed to ReneSola was $10.9 million or $0.23 per share compared to net loss of $4.5 million or $0.12 per share in Q4 2018.
— For fiscal 2020, the company expects revenue in the range of $80 million to $100 million and first quarter 2020 revenue is eyed in the range of $30 million to $33 million.
— ReneSola currently owns 216 MW of operating projects. As of December 31, 2019, the company had 7 MW of completed projects that are currently for sale.
— SOL stock had lost 32% of its value so far this year.