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Stock Alert: Will JinkoSolar Meet Its Expectations?

JinkoSolar Holding Co., Ltd. (JKS) is scheduled to report first-quarter results today, before market open.

When major solar module manufacturer reported fourth-quarter results in March, JinkoSolar had said it was not expecting Covid-19 to impact its operations and reiterated first-quarter sales outlook in the range of $1.00 billion to $1.08 billion. Analysts polled by Thomson Reuters expect the company to report revenue of $1.03 billion.

The consensus estimate for earnings in the first quarter stands at $1 per share. Last year, the company's earnings had beaten estimates in all four quarters.

In the last reported quarter, revenue had increased 23.4% year-over-year to $1.37 billion, driven by 25.4% growth in solar module shipments from last year.

Last month, the company said it was ranked as a top performer for the sixth consecutive year in the 2020 PV Module Reliability Scorecard, published by PV Evolution Labs in partnership with DNV GL. The PV Module Reliability Scorecard, the most comprehensive publicly available comparison of PV module reliability test results across the PV industry, ranks PV manufacturers and modules based on their reliability and performance.

Friday, JinkoSolar stock was up $0.89 or 5.25% before closing at $17.85.

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