JinkoSolar (NYSE: JKS) reported Q3 EPS of $0.90, $0.19 better than the analyst estimate of $0.71. Revenue for the quarter came in at $2.74 billion versus the consensus estimate of $2.6 billion.

Operations and Business Outlook Highlights:

With continuous investments in R&D and technological innovation, we expect to continuously improve the mass production efficiency of N-type cells and narrow the integrated cost difference between N-type and P-type modules.

With more N-type production capacity being released in 2023 and the penetration ratio of N-type products increasing across the industry, we expect the proportion of N-type shipments in our total shipments to further increase.

Fourth Quarter and Full Year 2022 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 fourth quarter of 2022, the Company expects its module shipments to be in the range of 13.0 GW to 15.0 GW.

For full year 2022, the Company estimates its module shipments to be in the range of 41.5 GW to 43.5 GW.

Solar Products Production Capacity

JinkoSolar expects its annual production capacity for mono wafer, solar cell and solar module to reach 65.0 GW, 55.0 GW and 70.0 GW, respectively, by the end of 2022.

Recent Business Developments

• In August 2022, the local government of Sichuan province, where certain of JinkoSolar' s manufacturing facilities are located, has imposed province-wide power rationing measures to ease the power shortage in the region.
• In October 2022, JinkoSolar's high-efficiency N-Type monocrystalline silicon solar cell set its new record with maximum conversion efficiency of 26.1%.
• In October 2022, Jiangxi Jinko announced its certain preliminary unaudited financial results for the nine months ended September 30, 2022.

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