JinkoSolar (JKS) Tops Q1 EPS Views
JinkoSolar (NYSE: JKS) reported Q1 EPS of $2.04, $1.18 better than the analyst estimate of $0.86. Revenue for the quarter came in at $847.8 million versus the consensus estimate of $685.05 million.
The company said: Non-GAAP basic and diluted earnings per share were RMB3.30 ($0.51) and RMB2.80 ($0.43), respectively, during the first quarter of 2016. This translates into non-GAAP basic and diluted earnings per ADS of RMB13.20 ($2.04) and RMB11.20 ($1.72), respectively.
Total solar module shipments were 1,600 megawatts ("MW"), which includes 166 MW to be used in the Company's downstream projects. Total solar module shipments decreased by 6.4% from 1,710 MW in the fourth quarter of 2015 and increased by 102.7% from 789 MW in the first quarter of 2015.
Second Quarter and Full Year 2016 Guidance
For the second quarter of 2016, the Company estimates total solar module shipments to be in the range of 1.6 GW to 1.7 GW, which includes 1.45 GW to 1.6 GW module shipments to third parties. Revenues will not be recognized for the modules shipped to the Company's own downstream projects as required by U.S. GAAP.
For the full year 2016, the Company estimates total solar module shipments to be in the range of 6 GW and 6.5 GW which includes 5.4 GW to 5.7 GW module shipments to third parties. Full year newly-added solar power project development scale is expected to be in the range of 600 MW to 800 MW.
For earnings history and earnings-related data on JinkoSolar (JKS) click here.