Why JinkoSolar Stocks Are Falling Today

  • Jinko Solar Holding Co.,Ltd (NYSE:JKS) reported a fourth quarter FY22 revenue grew 85.5% year over year to $4.41 billion, beating consensus of $3.81 billion.

  • The sequential and annual increases were primarily due to the increase in solar panel shipments.

  • Quarterly shipments of 16,802 MW increased 73.3% year over year and 54.8% sequentially.

  • Gross margin was 14.1% for the quarter compared to 16.1% in fourth quarter 21. The decrease was primarily due to an increase in silicon costs.

  • Operating margin was 2.1% compared to 3% a year ago. Total operating expenses increased 68.2% Y/Y primarily due to increased shipping costs for solar panels and higher impairment charges on property, plant and equipment.

  • Earnings per ADS of $0.85 missed consensus of $1.21.

  • JinkoSolar held $1.64 billion in cash and cash equivalents as of December 31, 2022.

  • Xiande Li, Chairman and CEO of JinkoSolar, commented, “During the year, as raw material costs continue to rise, we have continued to tirelessly optimize our cost structure through technical advances and manufacturing process improvements, which have partially eased the pressure on profitability.”

  • Outlook: JinkoSolar expects its module shipments to be 11.0 GW to 13.0 GW in the first quarter. JinkoSolar estimates its total shipments in FY23 at 60.0GW to 70.0GW.

  • JinkoSolar expects the annual monowafer, solar cell and solar production capacity to reach 75.0 GW, 75.0 GW and 90.0 GW by the end of 2023.

  • Price promotion: JKS shares are trading down 14.52% at $48.08 on the last check Friday.

  • Photo via company

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This article Why JinkoSolar Stocks Are Falling Today originally appeared on Benzinga.com


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Russell Falcon

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