ReneSola (SOL) Tops Q3 EPS by 10c

ReneSola (NYSE: SOL) reported Q3 EPS of $0.08, $0.10 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $368.2 million versus the consensus estimate of $340.02 million.

The Company recognized revenue of $64.6 million from the sale of solar power projects. The revenue was comprised of new sales in the quarter of two projects representing 35.0 MW of generating capacity. The sales generated gross margins above the Company average. Subsequent to the end of the quarter, the Company also announced the sale of another 16.5 MW utility scale project in the UK. In addition, the company expects to sell another project of 0.9MW in Japan in Q4 2015.

ReneSola sees Q4 2015 revenue of $275-295 million, versus the consensus of $278.6 million.

For earnings history and earnings-related data on ReneSola (SOL) click here.

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