We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ReneSola (SOL) Q1 Earnings Coming Up: What's in the Cards?
Read MoreHide Full Article
ReneSola Ltd. (SOL - Free Report) is set to report first-quarter 2021 results on May 25, after market close.
In the last reported quarter, the company delivered an earnings surprise of 100.00%. In the trailing four quarters, the company came up with an earnings surprise of 155.56%, on average.
Let's take a closer look at the factors influencing the company’s upcoming quarterly results.
Factors to Consider
ReneSola faced project delays in the initial quarters of 2020 due to the continued impacts of the COVID-19 pandemic. However, from the end of third-quarter 2020, demand in the global solar market started to improve, as a result of which ReneSola ended the year 2020 on a strong note. We expect the company’s first-quarter 2021 results to reflect impressive project sales growth, which is likely to have boosted its revenues.
In April, ReneSola released its preliminary results for the first quarter of 2021, wherein it raised its revenue expectation to $20 million from the prior guidance of $18-$20 million. Surely, this boosts our optimism for the company’s top-line performance in the soon-to-be-reported quarter.
Moreover, the company has also expanded its gross margin expectation. In its preliminary results, ReneSola projects its gross margin to exceed 15% compared with the prior guidance of a 10-11% increase. Such gross margin improvement should benefit the company’s bottom line performance in the first quarter.
Meanwhile, the company's strong focus on prudent cost-control management is also likely to have boosted its quarterly earnings.
The Zacks Consensus Estimate for loss of 2 cents implies an improvement from the prior-year quarter’s loss of 4 cents.
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.
Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2021 adjusted earnings of 56 cents per share, which surpassed the Zacks Consensus Estimate of 41 cents by 36.6%.
First Solar Inc. (FSLR - Free Report) reported first-quarter 2021 adjusted earnings of $1.96 per share, which surpassed the Zacks Consensus Estimate of $1.00 by 96%.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported first-quarter 2021 adjusted earnings of 98 cents per share, which missed the Zacks Consensus Estimate of $1.01 by 3%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better. See these 7 breakthrough stocks now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ReneSola (SOL) Q1 Earnings Coming Up: What's in the Cards?
ReneSola Ltd. (SOL - Free Report) is set to report first-quarter 2021 results on May 25, after market close.
In the last reported quarter, the company delivered an earnings surprise of 100.00%. In the trailing four quarters, the company came up with an earnings surprise of 155.56%, on average.
Let's take a closer look at the factors influencing the company’s upcoming quarterly results.
Factors to Consider
ReneSola faced project delays in the initial quarters of 2020 due to the continued impacts of the COVID-19 pandemic. However, from the end of third-quarter 2020, demand in the global solar market started to improve, as a result of which ReneSola ended the year 2020 on a strong note. We expect the company’s first-quarter 2021 results to reflect impressive 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
In April, ReneSola released its preliminary results for the first quarter of 2021, wherein it raised its revenue expectation to $20 million from the prior guidance of $18-$20 million. Surely, this boosts our optimism for the company’s top-line performance in the soon-to-be-reported quarter.
Moreover, the company has also expanded its gross margin expectation. In its preliminary results, ReneSola projects its gross margin to exceed 15% compared with the prior guidance of a 10-11% increase. Such gross margin improvement should benefit the company’s bottom line performance in the first quarter.
Meanwhile, the company's strong focus on prudent cost-control management is also likely to have boosted its quarterly earnings.
The Zacks Consensus Estimate for loss of 2 cents implies an improvement from the prior-year quarter’s loss of 4 cents.
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 stocks here.
Recent Solar Releases
Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2021 adjusted earnings of 56 cents per share, which surpassed the Zacks Consensus Estimate of 41 cents by 36.6%.
First Solar Inc. (FSLR - Free Report) reported first-quarter 2021 adjusted earnings of $1.96 per share, which surpassed the Zacks Consensus Estimate of $1.00 by 96%.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported first-quarter 2021 adjusted earnings of 98 cents per share, which missed the Zacks Consensus Estimate of $1.01 by 3%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>