** charts before earnings **
** charts after earnings **
JinkoSolar Holding beats by $0.52, beats on revs; guides Q1/FY17 shipments:
- Reports Q4 (Dec) earnings of $1.04 per share, $0.52 better than the Capital IQ Consensus of $0.52; revenues fell 21.3% year/year to $737.65 mln vs the $715.13 mln Capital IQ Consensus.
- Total solar module shipments in the fourth quarter of 2016 amounted to 1,733 MW.
- As of December 31, 2016, the Company's in-house annual silicon wafer, solar cell and solar module production capacity was 5.0 GW, 4.0 GW and 6.5 GW, respectively.
- "We further consolidated our leading position across a number of key and emerging markets during the quarter. China remains our largest market where we expect growth momentum to continue during the first half of 2017 as rush orders come in before the FiT cut in June 2017. Demand during the second half of 2017 may soften, but distributed generation and Top Runner projects are expected to make up for the demand. After a sharp decline during the quarter, ASPs in the US have begun to stabilize. While uncertainties remain, we believe that the growth trajectory of the US market won't deviate significantly, especially with ITC still valid. India, with its abundant sunlight and increasing demand for power, has created ideal market conditions for rapid growth. We are very optimistic about our potential in this market and have been rapidly expanding our team there. We will also reinforce our leading position in Latin America and the Middle East, two markets that remain full of opportunities."
- Outlook:
- For the first quarter of 2017, the Company estimates total solar module shipments to be in the range of 1.9 GW to 2.0 GW.
- For the full year 2017, the Company estimates total solar module shipments to be in the range of 8.5 GW and 9.0 GW.
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