JinkoSolar (JKS) Misses Q2 EPS by 6c; Guides Q3, FY16 Shipments
JinkoSolar (NYSE: JKS) reported Q2 EPS of $1.92, $0.06 worse than the analyst estimate of $1.98. Revenue for the quarter came in at $896.1 million versus the consensus estimate of $897.28 million.
Total solar module shipments were 1,716 megawatts ("MW"), which includes 204 MW used in the Company's downstream projects. Total solar module shipments increased by 7.3% from 1,600 MW in the first quarter of 2016 and 87.9% from 913 MW in the second quarter of 2015.
Operations and Business Outlook
Third Quarter and Full Year 2016 Guidance
For the third quarter of 2016, the Company estimates total solar module shipments to be in the range of 1.5 GW to 1.7GW, which includes 1.40 GW to 1.65 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.
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