$JKS Looks Set To Keep Climbing
$JKS looks set to keep climbing after a strong Q3 report. Here are the highlights:
JinkoSolar (NYSE:JKS) reported better-than-expected Q3 earnings and guiding Q4 total solar module shipments of 4.2K-4.4K MW, which would easily set a new quarterly shipment record.
Q3 solar module shipments totaled 3,326 MW, down 1.8% Q/Q but up 12.6% Y/Y from 2,953 MW in the year-ago quarter.
Q3 total revenues rose 8.2% Q/Q and 11.8% Y/Y to RMB7.48B ($1.05B), mostly due to an increase in the average selling price of solar modules and in multi-crystalline silicon wafer sales, and gross margin was 21.3% vs. 16.5% in Q2 and 14.9% in the year-ago quarter.
For Q4, JKS forecasts revenues of $1.17B-$1.23B, below analyst consensus estimate of $1.32B; the company does not expect the benefit of anti-dumping and countervailing duty, and sees total solar module shipments of 4.2-4.4 GW with gross margin of 18.5%-20.5%.
For FY 2019, JKS expects total solar module shipments of 14K-14.2K MW.
For FY 2020, JKS anticipates total solar module shipments of 18-20 GW, with annual silicon wafer, solar cell and solar module production capacity reaching 20 GW, 10.6 GW and 22.0 GW, respectively, by year-end.
As always, use protective stops and trade with caution.
Good luck to all!
JinkoSolar (NYSE:JKS) reported better-than-expected Q3 earnings and guiding Q4 total solar module shipments of 4.2K-4.4K MW, which would easily set a new quarterly shipment record.
Q3 solar module shipments totaled 3,326 MW, down 1.8% Q/Q but up 12.6% Y/Y from 2,953 MW in the year-ago quarter.
Q3 total revenues rose 8.2% Q/Q and 11.8% Y/Y to RMB7.48B ($1.05B), mostly due to an increase in the average selling price of solar modules and in multi-crystalline silicon wafer sales, and gross margin was 21.3% vs. 16.5% in Q2 and 14.9% in the year-ago quarter.
For Q4, JKS forecasts revenues of $1.17B-$1.23B, below analyst consensus estimate of $1.32B; the company does not expect the benefit of anti-dumping and countervailing duty, and sees total solar module shipments of 4.2-4.4 GW with gross margin of 18.5%-20.5%.
For FY 2019, JKS expects total solar module shipments of 14K-14.2K MW.
For FY 2020, JKS anticipates total solar module shipments of 18-20 GW, with annual silicon wafer, solar cell and solar module production capacity reaching 20 GW, 10.6 GW and 22.0 GW, respectively, by year-end.
As always, use protective stops and trade with caution.
Good luck to all!
Trade active:
$JKS now up 48% in just 2 months
To receive our alerts via email and SMS, join Insider Financial for Free at signup.insiderfinancial.com
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/