JinkoSolar Shares Slip As Q2 Results Show Quarterly Shipments Up More Than 76% YoY
Portfolio Pulse from Akanksha Bakshi
JinkoSolar Holding Co Ltd reported Q2 2023 revenue growth of 50.4% YoY to $4.23 billion, beating the consensus of $4.18 billion. Quarterly shipments were up 28.5% sequentially and 76.7% YoY. Gross margin expanded to 15.6% from 14.7% in Q2 of 2022. The company held $2.35 billion in cash, cash equivalents, and restricted cash as of June 30. However, JKS shares traded lower by 2.59% at $35 premarket on Monday.
August 14, 2023 | 1:17 pm
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NEGATIVE IMPACT
Despite reporting strong Q2 2023 results with revenue growth of 50.4% YoY and increased shipments, JinkoSolar's shares traded lower by 2.59% in premarket trading.
JinkoSolar reported strong Q2 2023 results with significant YoY growth in revenue and shipments. However, despite these positive results, the company's shares traded lower in premarket trading. This could be due to market factors or investor sentiment not reflected in the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100