JinkoSolar -7% as earnings miss estimates

JinkoSolar (JKS) -7.1% premarket after reporting Q1 earnings that fell far short of expectations, although net income of $1.5M compared with a $20.7M net loss in the year-ago quarter.

Total solar product shipments were 581.2 MW vs. guidance of 440-470 MW given at the end of Q4, a 0.9% Q/Q decrease but a 71.6% Y/Y increase.

Gross margin was 24.0% vs. 24.7% in Q4 2013 and 12.7% in Q1 2013.

Expects Q2 total solar module shipments of 570-600 MW; for FY 2014, reaffirms expectations for total solar module shipments of 2.3-2.5 GW, with total project development scale above 400 MW.

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Comments (1)
  • guzz
    , contributor
    Comments (19) | Send Message
    Loods like bad estimates from analysts as estimates from JKS were correct. And gross margin is ok as well. Confident that expectations of the fulltime year will be right as well!
    27 May 2014, 08:50 AM Reply Like
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