If they have retained 100 MW and make 18 cents in gross profit PER SHARE from it in Q1, that's $.72 per year. But they are likely going to multiply their retained projects by 5 or 10 (?) to at least 500 MW to 1 GW. So if that is the case, that's $3.50 to $7.20 in gross profits per share from electricity.
they had $7.8 million US in electricity sales! 29 cents per share in electricity revenues. At 60 percent gross margin, that's about 18 cents per share in gross profits just from electricity. Starting to buy into the retaining strategy.
they registerd 213 MW in projects in the last 15 to 18 months. In Q2 to Q4, they will interconnect over 400 MW in projects. In 2013, they made $2.80 in earnings, diluted. In Q2 to Q4, with double the installations, they could earn $5.60, just do the math. Plus they said they continue to lower costs, ASP stays steady, plus keep adding electricity sales per month.
Plus the 20 cents this quarter. Plus increase in module sales to over 600 MW per quarter, plus increased capacity coming online. They could make over $6.00 in 2014.
Greater visibility on projects and the yieldco. 140 MW in projects in Q2 equals about what they did in the second half of last year, as I recall, when they earned well over $2.50 per share in Q3 and Q4. That means that there will be over 260 MW in projects for the rest of the year.
They are maintaining their margins, their industry leading margins. Adding monthly electricity revenues each quarter. Yieldco coming as early as December, lowering their capital costs.
Increase in capacity coming on line this quarter, as Herrerro said, to increase the tight supply. INventories are low, cannot meet demand.
Next year, they say, easily could connect 500 to 600 MW in projects. That's the "easy" number. Likely will do more than that. If they do 600 MW in projects next year, that will increase their projects by 50% from this year, which will be an increase of 100% from last year.
It's dropped $13 from its top of over 36 closing. There was a severe loss priced into the stock. The fact that it earned $.20 will actually prove to lift the stock price. Don't know when, but it will.
64 cents ASP in emerging markets, with no subsidies in most of these places! And JKS is the market leader in many of these nations, 30% share in Chile,etc
Actually with no project sales counting on their books this quarter, I am surprised they made as much as 20 cents. This goes to show how much they are making in the electricity sales, in my opinion. Those sales have a 60 percent gross profit margin.
Q1 was down because of zero project sales. Will interconnect 400 MW in the rest of the year, and will either sell the projects or collect electricity. The difference between the GAAP and non-GAAP numbers have to do with the huge retained revenues that are not counted in GAAP but which are already in company coffers.
These electricity revenues will increase by some multiple over the next year. If not, their project sales profits will be enormous. They either sell the projects or collect electricity from them.
So the lack of sales of projects will be made up later in the year, and next quarter looks like will be a big quarter in module sales.
They did not sell any projects in Q1, but maintained over 400 MW guidance for the year on projects.
From pv-magazine (JKS apparently lowered their costs by a cent per watt in Q1, which is very encouraging):
JinkoSolar Chief Strategy Officer Arturo Herrero embraced the proposition in discussion with pv magazine at this year’s inaugural Solar Leaders Business Lunch. According to Herrero, Jinko’s net module production costs are $0.48 per watt, gross production costs $0.58 per watt.
My note: what if they get down to .45? Meaning a 10% reduction for this year? panels may be flying off the shelves to diy third-worlders in the billions.
Actually it's 13.5 GW!:
Speaking to pv magazine, Ash Sharma, senior director of Solar Research at IHS Technology, agrees that "there are concerns over China's ability to install distributed PV and so far this year, demand has been weak in China. However we do still expect around 4 GW of distributed PV to be installed this year and total installations to reach approximately 13.5 GW."
Shares of JinkoSolar Holding Co. (NYSE:JKS) have earned a consensus rating of “Buy” from the eight analysts that are presently covering the stock, American Banking & Market News reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $43.74.
JinkoSolar Holding Co. (NYSE:JKS) opened at 24.70 on Wednesday. JinkoSolar Holding Co. has a 52 week low of $7.25 and a 52 week high of $37.98. The stock has a 50-day moving average of $27.26 and a 200-day moving average of $29.75. The company has a market cap of $667.2 million and a P/E ratio of 17.78.
JinkoSolar Holding Co. (NYSE:JKS) last announced its earnings results on Monday, March 3rd. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.65. The company had revenue of $361.40 million for the quarter, compared to the consensus estimate of $346.63 million. During the same quarter in the previous year, the company posted ($1.26) earnings per share. On average, analysts predict that JinkoSolar Holding Co. will post $3.44 earnings per share for the current fiscal year.