JinkoSolar (JKS) Tops Q3 EPS by 2c, Beats on Revenues

JinkoSolar (NYSE: JKS) reported Q3 EPS of $0.12, $0.02 better than the analyst estimate of $0.10. Revenue for the quarter came in at $964.85 million versus the consensus estimate of $849.45 million.

Third Quarter 2017 Highlights

• Total solar module shipments were 2,374 megawatts (\"MW\"), a decrease of 17.7% from 2,884 MW in the second quarter of 2017 and an increase of 47.8% from 1,606 MW in the third quarter of 2016.
• Total revenues were RMB6.42 billion (US$964.8 million), a decrease of 19.0% from the second quarter of 2017 and an increase of 20.4% from the third quarter of 2016.
• Gross margin was 12.0%, compared with 10.5% in the second quarter of 2017 and 19.2% in the third quarter of 2016.
• Income from operations was RMB91.9 million (US$13.8 million), compared with RMB85.3 million in the second quarter of 2017 and RMB433.3 million in the third quarter of 2016.
• Net income attributable to the Company\'s ordinary shareholders from continuing operations was RMB11.3 million (US$1.7 million) in the third quarter of 2017, compared with RMB47.4 million in the second quarter of 2017 and RMB233.7 million in the third quarter of 2016.
• Diluted earnings per American depositary share (\"ADS\") from continuing operations were RMB0.32 (US$0.04).
• Non-GAAP net income attributable to the Company\'s ordinary shareholders from continuing operations in the third quarter of 2017 was RMB25.9 million (US$3.9 million), compared with RMB61.2 million in the second quarter of 2017 and RMB271.4 million in the third quarter of 2016.
• Non-GAAP basic and diluted earnings per ADS from continuing operations were RMB0.80 (US$0.12) and RMB0.76 (US$0.12), respectively, in the third quarter of 2017.

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

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