JinkoSolar reported a tripled loss of $220 million in Q4 due to plummeting revenue and the loss of export tax rebates. As the company anticipates reduced module shipments this year, its energy storage segment remains a bright spot with significant growth potential expected.
JKS will report Q3 earnings before market open on Nov 17. Analysts expect a $1.60 loss per share and $2.51B revenue. Company announced proposed A-share sale of its subsidiary on Sept 12. Shares closed at $27.04, up 2.7% ahead of earnings. Recent analyst targets ($18, $22, $10.95) sit well below current price.
House passed a tax bill cutting clean energy subsidies. The removal of subsidies threatens the U.S. solar market. Shares of U.S. solar companies dropped significantly. Industry support and stability are now at risk. ENPH and peers may face dire financial consequences.
Jinko Solar projects a 98.4%-98.9% decrease in 2024 net income, indicating financial stress. This decline may impact market sentiment towards solar companies, including JKS.