JinkoSolar (NYSE: JKS) reported Q3 EPS of $1.36, $0.65 better than the analyst estimate of $0.71. Revenue for the quarter came in at $417.3 million versus the consensus estimate of $459.8 million.

Total solar product shipments to the third parties amounted to 708.2 megawatts ("MW"), consisting of 658.1 MW of solar modules, 30.3 MW of silicon wafers and 19.8 MW of solar cells. This represents an increase of 7.4% from 659.5 MW in the second quarter of 2014 and an increase of 36.5% from 518.9 MW in the third quarter of 2013. Total solar module shipments were 758.1 MW, which includes 100 MW to be used in the Company's downstream projects.

Operations and Business Outlook

Fourth Quarter and Full Year 2014 Guidance

For the fourth quarter of 2014, the Company estimates total solar module shipments to be in the range of 1,030 MW to 1,120 MW, which includes 730 MW to 770 MW module shipments to third parties and 300 MW to 350 MW for its own downstream projects. Revenues will not be recognized for the modules shipped to its own downstream projects as required by U.S. GAAP.

For the full year 2014, the Company estimates total solar module shipments to be in the range of 2.9 GW and 3.2 GW which includes 2.3 GW to 2.5GW module shipments to third parties. Full year project development scale is expected to be above 600 MW.

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