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JinkoSolar (JKS) Misses Q1 EPS by 35c, Revenue Beats

June 15, 2020 6:43 AM EDT

JinkoSolar (NYSE: JKS) reported Q1 EPS of $0.65, $0.35 worse than the analyst estimate of $1.00. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.03 billion.

Operations and Business Outlook:

The guidance for total module shipment and capacity expansion of the Company remain unchanged. The Company expects that the COVID-19 outbreak will lead to a significant decrease in global demand, causing the decrease in the market price of solar modules.

Second Quarter and Full Year 2020 Guidance

The Company's business outlook is based on management's current views and estimates with respect to market conditions, production capacity, the Company's order book and the global economic environment. This outlook is subject to uncertainty on final customer demand and sale schedules. Management's views and estimates are subject to change without notice.

For the second quarter of 2020, the Company expects total solar module shipments to be in the range of 4.2 GW to 4.5 GW. Total revenue for the second quarter is expected to be in the range of US$1.10 billion to US$1.18 billion. Gross margin for the first quarter is expected to be between 16% and 18%.

For full year 2020, the Company estimates total solar module shipments to be in the range of 18 GW to 20 GW.

Solar Products Production Capacity

JinkoSolar expects its annual mono wafer, solar cell and solar module production capacity to reach 20.0 GW, 11.0 GW (including 900 MW N-type cells) and 25.0 GW, respectively, by the end of 2020.

For earnings history and earnings-related data on JinkoSolar (JKS) click here.



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