JinkoSolar (JKS) Tops Q3 EPS by 26c
JinkoSolar (NYSE: JKS) reported Q3 EPS of $1.28, $0.26 better than the analyst estimate of $1.02. Revenue for the quarter came in at $637.6 million versus the consensus estimate of $561.28 million.
Total solar module shipments were 1,134.5 MW, which includes 70.6 MW earmarked for use in the Company's downstream projects. Total solar product shipments to the third parties were 1,107.7 megawatts ("MW"), consisting of 1,063.9 MW of solar modules, 10.4 MW of silicon wafers and 33.4 MW of solar cells. This represents an increase of 21.1% from 915.0 MW in the second quarter of 2015 and an increase of 56.4% from 708.2 MW in the third quarter of 2014
Fourth Quarter and Full Year 2015 Guidance
For the fourth quarter of 2015, the Company estimates total solar module shipments to be in the range of 1.4 GW to 1.7 GW, which includes 1.2 GW to 1.4 GW module shipments to third parties. Revenues will not be recognized for the modules shipped to its own downstream projects as required by U.S. GAAP.
For the full year 2015, the Company updates the guidance of total solar module shipments to 4.2 GW to 4.5 GW which includes 3.8 GW to 4.0 GW module shipments to third parties. The Company expects to grid-connect solar power projects with a total capacity of 600 MW -- 800 MW in 2015.
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