Solar Module Company JinkoSolar's Q2 Earnings: 22% Revenue Drop, Margins Hit By Lower Average Selling Price
Portfolio Pulse from Anusuya Lahiri
JinkoSolar reported a 22% drop in Q2 revenue, missing analyst estimates, but beat earnings expectations. Despite increased shipments, margins were hit by lower selling prices. The stock fell 5.19% premarket.
August 30, 2024 | 11:48 am
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JinkoSolar's Q2 results showed a significant revenue drop of 22%, missing analyst expectations, but earnings per ADS beat estimates. Despite a 36% increase in shipments, margins were pressured by lower average selling prices, leading to a 5.19% premarket stock decline.
The significant revenue miss and margin pressure due to lower selling prices are negative indicators for JinkoSolar, despite the earnings beat. The premarket stock decline of 5.19% reflects investor concerns over these results.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100