JinkoSolar (JKS) Tops Q2 EPS by 24c; Boosts FY15 Module Shipment Outlook
JinkoSolar (NYSE: JKS) reported Q2 EPS of $1.08, $0.24 better than the analyst estimate of $0.84. Revenue for the quarter came in at $516.2 million versus the consensus estimate of $468.03 million.
Total solar module shipments were 913.4 MW, which includes 90.4 MW earmarked for use in the Company's downstream projects. Total solar product shipments to the third parties amounted to 915.0 megawatts ("MW"), consisting of 823.0 MW of solar modules, 59.5 MW of silicon wafers and 32.5 MW of solar cells. This represents an increase of 15.9% from 789.2 MW in the first quarter of 2015 and an increase of 38.7% from 659.5 MW in the second quarter of 2014.
perations and Business Outlook
Third Quarter and Full Year 2015 Guidance
For the third quarter of 2015, the Company estimates total solar module shipments to be in the range of 1 GW to 1.1 GW, which includes 900 MW to 950 MW module shipments to third parties and 100 MW to 150 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 2015, the Company raises the guidance of total solar module shipments to 4.0 GW to 4.5 GW which includes 3.4 GW to 3.7 GW module shipments to third parties. The Company expects to grid-connect solar power projects with a total capacity of 600 MW – 800 MW in 2015.
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