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What: Shares of solar manufacturer JinkoSolar Holding Co., Ltd. (NYSE:JKS) jumped as much as 18% in trading today after the company released earnings.
So what: JinkoSolar's third quarter shipments rise 6.1% sequentially to 518.9 MW, revenue was up 11.2% to $320.7 million, and net income was $16.9 million, or $1.44 per share. The results easily beat estimates of $302.2 million in earnings and $0.45 per share in earnings.
Now what: JinkoSolar has one of the better balance sheets of Chinese solar manufacturers and it also has one of the best gross margins at 22.3%. The company was one of the first to move into the systems business, which is now higher margin than selling modules itself. This should be one of the Chinese manufacturers to emerge once the industry consolidates, which is great news for investors long-term.
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