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JinkoSolar -4% after Q3 earnings; solar module shipments -17% vs. Q2

Dec. 07, 2017 8:18 AM ETJinkoSolar Holding Co., Ltd. (JKS) StockJKSBy: Carl Surran, SA News Editor
  • JinkoSolar (NYSE:JKS) -4.2% premarket despite posting better than expected Q3 earnings and revenues, as solar module shipments of 2.374 GW fell 17.7% Q/Q - exceeding the company's guidance of 2.1-2.3 GW - while rising 47.8% Y/Y from 1.606 GW in the year-ago quarter.
  • JKS says Q3 revenue of $965M was 12.8% higher than a year ago but 19% lower than in Q2 when revenue reached $1.17B.
  • Q3 gross margin was 12%, compared with 10.5% in Q2 and 19.2% in Q3 2016.
  • For Q4, JKS estimates total solar module shipments of 2.3-2.5 GW; for the full year, it sees shipments of 9.6-9.8 GW, up from the previous quarter guidance of 8.5-9.0 GW.
  • JKS says "demand in China remained strong during the quarter as the distributed generation market there grows rapidly."

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