What's Going On With JinkoSolar Shares Wednesday?
Portfolio Pulse from Dylan Berman
JinkoSolar's stock rose after reporting better-than-expected Q3 earnings, with a loss of 6 cents per share against an expected loss of 29 cents. Sales were $3.49 billion, beating estimates but down 23% year-over-year due to lower solar module prices. Shipments increased by 14.7% year-over-year.
October 30, 2024 | 3:29 pm
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POSITIVE IMPACT
JinkoSolar's Q3 earnings exceeded expectations with a smaller-than-expected loss and higher sales, despite a 23% YoY decline. Shipments rose 14.7%, boosting investor confidence.
JinkoSolar's better-than-expected earnings and increased shipments have positively impacted investor sentiment, leading to an 8.13% rise in stock price. The company's ability to beat estimates despite a challenging market environment suggests strong operational management.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100