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JinkoSolar Holding Co., Ltd. (JKS - Free Report) reported fourth-quarter 2017 earnings per American Depositary Share (ADS) of 12 cents which missed the Zacks Consensus Estimate of 23 cents by 47.8%. The reported figure also declined 81.8% from the year-ago quarter earnings of 66 cents per ADS.
JinkoSolar Holding Company Limited Price, Consensus and EPS Surprise
In the quarter under review, JinkoSolar’s total revenues of $976.3 million surpassed the Zacks Consensus Estimate of $913 million by 6.9%. The top line also increased 32.4% on a year-over-year basis.
The year-over-year top-line improvement was mainly attributable to increase in solar module shipments, which was partially offset by a decline in average selling price of solar modules.
Quarterly Highlights
In fourth-quarter 2017, total solar product shipment was 2,481 megawatts, up 43.1% year over year. Shipments also improved 4.5%, sequentially.
JinkoSolar’s total operating expenses declined 1.2% year over year to $99 million, owing to a disposal gain in property, plant and equipment, which was partially offset by an increase in shipping costs.
The company incurred $8.5 million as interest expenses, down 25.5%. The decline can be attributable to a fall in interest expenses associated with the company’s convertible senior notes.
Financial Condition
As of Dec 31, 2017, JinkoSolar had cash and cash equivalents of $296.4 million, down from $360.3 million as of Dec 31, 2016.
Total interest bearing debts as of Dec 31, 2017 were $1.14 billion compared with $891.7 million as of Dec 31, 2016.
Guidance
For first-quarter 2018, JinkoSolar expects total solar module shipments in the range of 1.8-2.0 gigawatts (GW).
For 2018, the company currently projects total solar module shipments in the band of 11.5 GW to 12.0 GW.
Canadian Solar (CSIQ - Free Report) reported fourth-quarter 2017 earnings of $1.01 per share, missing the Zacks Consensus Estimate of $1.03 by 2%.
First Solar (FSLR - Free Report) reported fourth-quarter 2017 adjusted loss of 25 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 32 cents by 21.9%.
Enphase Energy (ENPH - Free Report) delivered fourth-quarter 2017 adjusted earnings of 1 cent per share, which compares favorably with the Zacks Consensus Estimate of break-even earnings.
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JinkoSolar (JKS) Q4 Earnings Miss, Sales Beat Estimates
JinkoSolar Holding Co., Ltd. (JKS - Free Report) reported fourth-quarter 2017 earnings per American Depositary Share (ADS) of 12 cents which missed the Zacks Consensus Estimate of 23 cents by 47.8%. The reported figure also declined 81.8% from the year-ago quarter earnings of 66 cents per ADS.
JinkoSolar Holding Company Limited Price, Consensus and EPS Surprise
JinkoSolar Holding Company Limited Price, Consensus and EPS Surprise | JinkoSolar Holding Company Limited Quote
Total Revenues
In the quarter under review, JinkoSolar’s total revenues of $976.3 million surpassed the Zacks Consensus Estimate of $913 million by 6.9%. The top line also increased 32.4% on a year-over-year basis.
The year-over-year top-line improvement was mainly attributable to increase in solar module shipments, which was partially offset by a decline in average selling price of solar modules.
Quarterly Highlights
In fourth-quarter 2017, total solar product shipment was 2,481 megawatts, up 43.1% year over year. Shipments also improved 4.5%, sequentially.
JinkoSolar’s total operating expenses declined 1.2% year over year to $99 million, owing to a disposal gain in property, plant and equipment, which was partially offset by an increase in shipping costs.
The company incurred $8.5 million as interest expenses, down 25.5%. The decline can be attributable to a fall in interest expenses associated with the company’s convertible senior notes.
Financial Condition
As of Dec 31, 2017, JinkoSolar had cash and cash equivalents of $296.4 million, down from $360.3 million as of Dec 31, 2016.
Total interest bearing debts as of Dec 31, 2017 were $1.14 billion compared with $891.7 million as of Dec 31, 2016.
Guidance
For first-quarter 2018, JinkoSolar expects total solar module shipments in the range of 1.8-2.0 gigawatts (GW).
For 2018, the company currently projects total solar module shipments in the band of 11.5 GW to 12.0 GW.
Zacks Rank
JinkoSolar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
Canadian Solar (CSIQ - Free Report) reported fourth-quarter 2017 earnings of $1.01 per share, missing the Zacks Consensus Estimate of $1.03 by 2%.
First Solar (FSLR - Free Report) reported fourth-quarter 2017 adjusted loss of 25 cents per share, which was narrower than the Zacks Consensus Estimate of a loss of 32 cents by 21.9%.
Enphase Energy (ENPH - Free Report) delivered fourth-quarter 2017 adjusted earnings of 1 cent per share, which compares favorably with the Zacks Consensus Estimate of break-even earnings.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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