JKS relased it's Q2 earnings on 8/12, looking at news and it's earnings report, it had an EPS of 3.52 exceeding consensus of 2.08, revenue of $4.23 billion a 50.4% increase from Q2 2022, exceeding analyst expectations of $ 4.18 billion. Gross margin increased to 15.6% from 14.7% and operating margin went from -5% to +1.5% compared to last year's Q2. Quarterly shipments up 28.5% and 76.7% Y/Y. Decreased operating expenses of total revenues from 12.1% in Q1 to 10.6% in Q2. Net income was US$180.1 million in the second quarter, up 65.6% sequentially. Adjusted net income was US$196.7 million, up 70.5% Q/Q. Diluted earnings per ordinary share were US$0.77, up 48.5% Q/Q.
The forward guidance of the company was pretty positive, aiming to invest in N type cell production overseas in the 2nd half of 2023. Increasing N type cell efficency, and the announcement of a construction of a N type cell factory in China. Optimism about the growth in demand for solar modules due to stabilzing prices in it's supply chain, and increasing demand for N type cells.
(the numbers are obviously really positive, all beating expectations and there is plenty of optimism for the company from management, what did I do wrong?)
edit: one thing though, just before market open, an analyst from Goldman Sachs expressed bearish sentiment, maintaining sell rating and lowering the price target from $38 to $33. This could be the cause of the beatdown. But i still want to hear your opinion.
https://beststocks.com/goldman-sachs-analyst-expresses-bearish-senti/
the article said “This adjustment came in response to the company’s mixed Q2 results” while at the same time taking about how the company's strong performance. How is it mixed?? The numbers were excellent.
https://www.sec.gov/Archives/edgar/data/1481513/000110465923091088/tm2323674d1_ex99-2.htm (Q2 report)
Edit 2: very much doubt earnings were priced in, JKS was already oversold before release of Q2
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