JKS - JinkoSolar's Q1 Miss Offset By Strong Outlook Shares Rally As Shipments Surge | Benzinga
JinkoSolar Holding Co Ltd (NYSE:JKS) shares are trading higher after the Shanghai, China-based company reported first-quarter fiscal 2024 results.
JKS's Q1 revenue decreased 1.2% year-over-year to $3.19 billion, missing the consensus of $3.25 billion.
Quarterly shipments increased 51.2% Y/Y to 21,907 MW (19,993 MW for solar modules and 1,914 MW for cells and wafers).
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Gross margin for the quarter stood at 11.9%, compared to 17.3% in Q1 2023, reflecting decreases in the average selling price of solar modules.
Loss from operations was RMB339.6 million ($47.0 million), compared to RMB1.21 billion income from operations in the first quarter of 2023.
JinkoSolar Adjusted net income was ...