JinkoSolar Earnings: JKS Stock Juiced 12% by Q3 Beat

JKS blew past estimates for the quarter

JinkoSolar (NYSE:JKS) earnings for the solar panel manufacturer’s third quarter of 2019 have JKS stock lighting up on Tuesday. That’s thanks to its adjusted EPS of 86 cents on revenue of $1.05 billion. These both beat out Wall Street’s estimates of 83 cents per share and $1.01 billion.

JinkoSolar Earnings: JKS Stock Juiced 12% by Q3 Beat
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Here’s what else is worth mentioning from the JinkoSolar earnings report for Q3 2019.

  • Adjusted per-share earnings for the quarter are up 13.16% from 76 cents during the same time last year.
  • Revenue for the quarter increased by 11.80% compared to the third quarter of 2018.
  • The JinkoSolar earnings report also includes an operating income of $90.90 million.
  • This is 239.81% above the $26.75 million reported in the third quarter of the previous year.
  • Net income of $51.74 million is 92.27% better than the $26.91 million from the same period of the year prior.

Kangping Chen, CEO of JinkoSolar, has this to say about the most recent JKS stock earnings.

“I’m pleased to report strong operational and financial results for the third quarter which I believe marks a turning point for our business, as we begin to increasingly benefit from our technology transformation, industry-leading cost structure and expanding mono capacity. Module shipments during the quarter were 3,326 megawatts, an increase of 12.6% year-over-year and a slight decrease sequentially.”

The JinkoSolar earnings report also includes its outlook for the fourth quarter of 2019. It is expecting revenue for the period to range from $11.70 billion to $12.30 billion. For comparison, Wall Street is looking for revenue of $1.32 billion in Q4 2019.

JKS stock was up 12.37% as of Tuesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/jinkosolar-earnings-send-jks-stock-soaring/.

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