Jinko Solar will raise its fourth-quarter guidance slightly after shipping around 200 MW more than it expected in the three months to the end of December, based on preliminary earnings estimates.
For the full year, the Chinese PV module manufacturer had expected to ship between 14.0 GW and 14.2 GW, but it has raised that estimate to between 14.3 GW and 14.4 GW. In its guidance for the fourth quarter, the company said that it likely shipped 4.5 GW to 4.6 GW of capacity, from an initial estimate of 4.2 GW to 4.4 GW.
While the difference in shipments only came down to a few hundred megawatts, the impact of the deals on the company’s revenue will likely be significant. In the fourth quarter, Jinko Solar was initially aiming for $1.17 billion to $1.23 billion of revenue. But last-minute deals at the end of the year drove this estimate up by 14% to between $1.35 billion and $1.38 billion.
Jinko Solar also reiterated its earnings outlook for 2020. It expects to ship about 18 GW to 20 GW of modules this year, which is about 4 GW to 6 GW above its full-year forecast for 2019.
“The efficient execution of our strategy throughout the second half of the year allowed us to rapidly transition our operations and facilities from poly to mono production and steadily increase the proportion of products made through our fully integrated manufacturing process,” said CEO Kangping Chen.