JinkoSolar Stock Soars on Better-Than-Expected Q3 Earnings

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JinkoSolar Holding Co., Ltd. (NYSE: JKS ) stock was soaring today after the release of its earnings report for the third quarter of 2017.

JinkoSolar Holding Co., Ltd. Stock Soars on Better-Than-Expected Q3 Earnings Source: Shutterstock

Earnings per share reported by JinkoSolar Holding Co., Ltd. for the third quarter of the year was 12 cents. This is a decrease over its earnings per share of $1.08 from the same time last year. However, it was still a boon to JKS stock by beating out Wall Street's earnings per share estimate of 10 cents for the quarter.

Revenue of $964.85 million for the third quarter of 2017 was also boosting JKS stock on Thursday. This is up from JinkoSolar Holding Co., Ltd.'s revenue of $855.31 million that was reported in the same period of the year prior. It also came in above analysts' revenue estimate of $849.45 million for the period.

JinkoSolar Holding Co., Ltd. also reported operating income of  $13.8 million in its third quarter of the year. The solar power company's net income for this same period came in at $1.7 million.

JinkoSolar Holding Co., Ltd. said that it continued to see strong demand from China during its third quarter of 2017. The company also says that it is expecting long-term demand growth in the U.S., as well as interest in its products increasing in Europe and several other regions.

JinkoSolar Holding Co., Ltd. says that it is expecting total solar module shipments for the fourth quarter of 2017 to range from 2.3 GW to 2.5 GW. For the full year of 2017, it is expecting total solar module shipments to come in between 9.6 GW and 9.8 GW.

JKS stock was up 5% as of Thursday afternoon and is up 51% year-to-date.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

The post JinkoSolar Stock Soars on Better-Than-Expected Q3 Earnings appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: JKS

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