ReneSola (NYSE: SOL) reported Q3 EPS of $0.01, versus $0.00 reported last year. Revenue for the quarter came in at $18.8 million versus the consensus estimate of $19 million.

Mr. Xianshou Li, ReneSola's Chief Executive Officer, commented, "We delivered another quarter of solid performance, as the effort to execute on ReneSola\'s transformation over the past twelve months continued to yield results. Revenue was once again at the high end of our expectations, and we meaningfully improved both gross and operating margins. Net income for the third quarter grew significantly, despite the sequential revenue decline of more than 30%, as anticipated. These strong results reflect our accelerating business momentum and improving earnings power."

Li continued, "Our overall solar power project pipeline remains solid at around 1.5 GW, and we continue to be optimistic about our opportunities around the world. We believe that our talented team, diversified geographic coverage and track record of success at every stage of project development positions us for profitable growth in the years ahead."

GUIDANCE:

ReneSola sees Q4 2018 revenue of $20-30 million, versus the consensus of $38.9 million.

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