JKS - JinkoSolar sinks after Q4 earnings miss declining gross margin
2023-03-10 09:25:48 ET
JinkoSolar ( NYSE: JKS ) -7.9% pre-market after posting a wide miss on Q4 GAAP earnings , while gross margin fell to 14.1% from 15.7% in Q3 and 16.1% in the same quarter a year earlier.
Q4 net income attributable to JinkoSolar ( JKS ) shareholders was RMB312.4M ($45.3M), compared with RMB427.5M in Q3 and RMB234.6M in the year-ago quarter.
Q4 revenues rose 56% Q/Q and 85% Y/Y to RMB30.4B ($4.41B), as shipments of solar modules jumped 55% Q/Q and 73% Y/Y to 16,802 MW.
Full-year revenues more than doubled to RMB83.53B ($12.11B) as total shipments surged 84% to 46,580 MW.
For Q1, JinkoSolar ( JKS ) guided for module shipments of 11-13 GW.
For FY 2023, the company estimates module shipments of 60-70 GW.
JinkoSolar ( JKS ) said it expects its annual production capacity for mono wafer, solar cell and solar module to reach 75 GW, 75 GW and 90 GW, respectively, by the end of 2023.
JinkoSolar ( JKS ) shares have gained 36% so far this year but have lost 1.5% during the past 12 months .
For further details see:
JinkoSolar sinks after Q4 earnings miss, declining gross margin