JinkoSolar (JKS) To Report Q3 Earnings: What's In Store?

JinkoSolar Holding Company Limited (NYSE:JKS) is scheduled to report third-quarter 2019 results on Nov 19, before market open.

In the last reported quarter, the company witnessed a negative earnings surprise of 35.71%. The bottom line also missed the Zacks Consensus Estimate in three of the trailing four quarters, the average negative surprise being 25.85%.

Let's see how things are shaping up prior to this announcement.

Factors at Play

During the third quarter, 95 megawatts (“MW”) of highly-efficient solar panels were supplied to Vena Energy Australia. The company also supplied 7.8 MW of solar modules that were installed at two PV power plants in Hungary. Backed by these, JinkoSolar is likely to have seen solid top-line growth in the to-be-reported quarter.

In the second-quarter earnings call, the company highlighted the guidance for its total solar module shipments in the range of 3.2-3.5 gigawatts. Its gross margin for the third quarter is expected between 19% and 20%. The company also forecasted revenues of $980-$1,070 million for the third quarter. The Zacks Consensus Estimate for the same is pegged at $1,033 million, which lies above the mid-point of the company’s guided range.

The aforementioned developments and projections further indicate bottom-line growth for the company in the third quarter. Notably, the Zacks Consensus Estimate for JinkoSolar’s third-quarter earnings pegged at 80 cents implies a rise of 11.1% from the year-ago quarter’s reported figure.

JinkoSolar Holding Company Limited Price and EPS Surprise

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for JinkoSolar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

JinkoSolar has an Earnings ESP of 0.00% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Solar Releases

SunPower Corp. (NASDAQ:SPWR) reported adjusted earnings of 22 cents per share in third-quarter 2019. The Zacks Consensus Estimate was a loss of a penny.

Enphase Energy, Inc. (NASDAQ:ENPH) reported third-quarter 2019 adjusted earnings of 30 cents per share, which surpassed the Zacks Consensus Estimate of 25 cents by 20%.

SolarEdge Technologies (NASDAQ:SEDG) reported third-quarter 2019 adjusted earnings of $1.21 per share, which surpassed the Zacks Consensus Estimate of 99 cents by 22.2%.

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