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ReneSola (SOL) Q1 Earnings Coming Up: What's in the Cards?

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·3 min read
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ReneSola Ltd. SOL is set to report first-quarter 2021 results on May 25, after market close.

In the last reported quarter, the company delivered an earnings surprise of 100.00%. In the trailing four quarters, the company came up with an earnings surprise of 155.56%, on average.

Let's take a closer look at the factors influencing the company’s upcoming quarterly results.

Factors to Consider

ReneSola faced project delays in the initial quarters of 2020 due to the continued impacts of the COVID-19 pandemic. However, from the end of third-quarter 2020, demand in the global solar market started to improve, as a result of which ReneSola ended the year 2020 on a strong note. We expect the company’s first-quarter 2021 results to reflect impressive project sales growth, which is likely to have boosted its revenues.

Renesola Ltd. Price and EPS Surprise

Renesola Ltd. Price and EPS Surprise
Renesola Ltd. Price and EPS Surprise

Renesola Ltd. price-eps-surprise | Renesola Ltd. Quote

In April, ReneSola released its preliminary results for the first quarter of 2021, wherein it raised its revenue expectation to $20 million from the prior guidance of $18-$20 million. Surely, this boosts our optimism for the company’s top-line performance in the soon-to-be-reported quarter.

Moreover, the company has also expanded its gross margin expectation. In its preliminary results, ReneSola projects its gross margin to exceed 15% compared with the prior guidance of a 10-11% increase. Such gross margin improvement should benefit the company’s bottom line performance in the first quarter.

Meanwhile, the company's strong focus on prudent cost-control management is also likely to have boosted its quarterly earnings.

The Zacks Consensus Estimate for loss of 2 cents implies an improvement from the prior-year quarter’s loss of 4 cents.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for ReneSola this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But this is not the case here.

Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: ReneSola currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Solar Releases

Enphase Energy, Inc. ENPH reported first-quarter 2021 adjusted earnings of 56 cents per share, which surpassed the Zacks Consensus Estimate of 41 cents by 36.6%.

First Solar Inc. FSLR reported first-quarter 2021 adjusted earnings of $1.96 per share, which surpassed the Zacks Consensus Estimate of $1.00 by 96%.

SolarEdge Technologies, Inc. SEDG reported first-quarter 2021 adjusted earnings of 98 cents per share, which missed the Zacks Consensus Estimate of $1.01 by 3%.

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Renesola Ltd. (SOL) : Free Stock Analysis Report

First Solar, Inc. (FSLR) : Free Stock Analysis Report

Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report

SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report

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