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JinkoSolar reports below-consensus Q2 results but maintains shipment view

Published 08/13/2018, 09:21 AM
© Reuters. JinkoSolar reports below-consensus Q2 results but maintains shipment view
JKS
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  • JinkoSolar (NYSE:JKS) -6.5% premarket after reporting weaker than expected Q2 earnings and a 21% Y/Y decline in revenues.
  • JKS says solar module shipments during Q2 totaled 2,794 MW (including 200 MW to the company's overseas downstream segment for which no revenue was recognized), up 38.7% from 2,015 MW in Q1 but 3% lower than 2,884 MW reported in the year-ago quarter.
  • But JKS reports a lower gross margin of 12% due to a decline in the average selling price of PV panels, compared with 14.4% in Q1.
  • JKS maintains its full-year shipment outlook of 11.5-12 GW while forecasting Q3 total solar module shipments of 2.8-3.0 GW.
  • The company believes the Chinese government's new policies will have a "relatively limited impact" on its operations over the short term, and says "good visibility of our order book for the entire year which is predominantly made up of overseas orders to markets which are growing rapidly and will generate significant opportunities ahead."
  • Now read: JinkoSolar Holding Co., Ltd. 2018 Q2 - Results - Earnings Call Slides


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