ReneSola (SOL) Set to Report Q2 Earnings: What's in Store?
ReneSola Ltd. SOL is set to report second-quarter 2021 results on Aug 30, after market close.
In the last reported quarter, the company delivered an earnings surprise of 350.00%. In the trailing four quarters, the company came up with an earnings surprise of 283.33%, on average.
Let's take a closer look at the factors likely to influence the company’s upcoming quarterly results.
Factors to Consider
The global solar industry witnessed moderately improved trends during the second quarter of 2021, thereby recovering from the initial shock dealt by the COVID-19 pandemic. Consequently, we observed an improved solar installation trend, across most parts of the world, which in turn must have boosted ReneSola’s project sale activity during the quarter.
We expect the company’s second-quarter 2021 results to duly reflect solid project sales growth, which is likely to have boosted its revenues.
Renesola Ltd. Price and EPS Surprise
Renesola Ltd. price-eps-surprise | Renesola Ltd. Quote
However, of late, the solar industry has been plagued by inflation of the commodity input costs. This might have had an adverse impact on ReneSola’s operating results in the soon-to-be-reported quarter.
On the other hand, the company's strong focus on prudent cost-control management is likely to have benefited its quarterly earnings.
Apart from its well-established market in China, ReneSola is likely to have gained from its international markets of Europe and the United States, a trend we expect to get reflected in the company’s upcoming results.
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 (Strong Buy) stocks here.
Recent Solar Releases
Enphase Energy ENPH reported second-quarter 2021 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 42 cents by 26.2%.
First Solar Inc. FSLR reported second-quarter 2021 adjusted earnings of 77 cents per share, which surpassed the Zacks Consensus Estimate of 60 cents by 28.3%.
Canadian Solar Inc. CSIQ reported second-quarter earnings of 18 cents per share. The Zacks Consensus Estimate was of a loss per share of 31 cents.
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Renesola Ltd. (SOL) : Free Stock Analysis Report
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Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
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