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JinkoSolar (JKS) to Report Q2 Earnings: What's in the Cards?

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JinkoSolar Holding Co., Ltd. (JKS - Free Report) is slated to report second-quarter 2023 results on Aug 14, before the opening bell.

In the last reported quarter, the company delivered an earnings surprise of 313.51%. JinkoSolar has a trailing four-quarter earnings surprise of 193.96%, on average.

Factors to Note

Thanks to strong demand growth witnessed for solar photovoltaics (PV) in recent times, along with a moderate decline in the price of polysilicon, JinkoSolar observed a surge in PV installations in the first quarter of 2023. This trend is likely to have prevailed in the second quarter as well, which along with a decrease in industrial supply-chain price, especially in China, can be expected to have increased JKS’ overseas shipments of modules and cells. This, in turn, might have boosted the company’s second-quarter revenues.

Product wise, strong sales of JinkoSolar’s N-Type module and Second-Generation Tiger Neo panel family might have aided JKS’ overall revenues in the soon-to-be-reported quarter. Region wise, China and Europe are expected to have contributed to the company’s top-line growth.

The Zacks Consensus Estimate for second-quarter revenues is pegged at $4.18 billion, indicating growth of 48.7% from the year-ago quarter’s reported figure.

Declining cost of polysilicon and increasing shipment of N-type modules, which have a premium compared with the P-type module, might have bolstered the company’s second-quarter gross margin. This, in turn, is likely to have aided JKS’ bottom-line performance.

JinkoSolar’s strong supply-chain management to better control its costs as well as solid sales growth expectations might have aided its overall earnings performance in the to-be-reported quarter.

The Zacks Consensus Estimate for the company’s second-quarter earnings is pegged at $2.08 per share, indicating growth of 87.4% from the year-ago quarter’s level.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for JinkoSolar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.

Earnings ESP: JKS’ Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: JinkoSolar currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Solar Releases

Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2023 adjusted earnings of $1.47 per share, implying a 37.4% improvement from $1.07 reported in the prior-year quarter. The bottom line beat the Zacks Consensus Estimate of $1.27 by 15.8%.

Enphase Energy’s second-quarter revenues of $711.1 million missed the Zacks Consensus Estimate of $727 million by 2.2%. However, the top line soared 34.1% from the prior-year quarter’s reported figure of $530.2 million.

First Solar, Inc. (FSLR - Free Report) reported second-quarter 2023 earnings of $1.59 per share, up 205.8% from the prior-year quarter’s level of 52 cents. The Zacks Consensus Estimate for second-quarter earnings was pegged at 95 cents.

First Solar’s second-quarter net sales were $810.7 million, which beat the Zacks Consensus Estimate of $720 million by 12.6%. The top line also improved 30.6% from the year-ago quarter’s figure of $620.9 million.

SolarEdge Technologies, Inc. (SEDG - Free Report) reported second-quarter 2023 adjusted earnings of $2.62 per share, which surpassed the Zacks Consensus Estimate of $2.55 by 2.8%. The bottom line also improved 175.8% from the prior-year quarter’s reported number of 95 cents.

The company’s quarterly revenues of $991.3 million outpaced the Zacks Consensus Estimate of $989 million by 0.2%. The top line also surged 36% from $727.8 million registered a year ago.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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