JinkoSolar Holding Co., Ltd. (JKS) Earnings
JinkoSolar Holding Co., Ltd. is expected to report next earnings on August 27, 2026 (in NaN days), with a consensus EPS estimate of $-0.90. JKS has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise -11.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $-1.84 | $-1.52 | +17.5% | $1.8B | -14.9% |
| Mar 25, 2026 | $-0.62 | $-1.77 | -185.9% | $2.9B | +5.2% |
| Nov 17, 2025 | $-2.01 | $-2.30 | -14.2% | $2.3B | -16.1% |
| Sep 26, 2025 | $-2.67 | $0.97 | +136.3% | $2.5B | -5.4% |
| Mar 26, 2025 | $-0.46 | $-1.01 | -119.6% | $1.9B | -37.5% |
| Oct 30, 2024 | $-0.80 | $0.29 | +136.3% | $3.5B | -2.3% |
| Aug 30, 2024 | $0.05 | $0.97 | +1840.0% | $3.3B | -15.4% |
| Mar 20, 2024 | $2.50 | $1.21 | -51.6% | $3.2B | -25.5% |
| Aug 14, 2023 | $1.65 | $3.52 | +113.3% | $4.2B | +6.2% |
| Apr 28, 2023 | $0.37 | $1.53 | +313.5% | $4.4B | +9.0% |
| Mar 10, 2023 | $1.45 | $1.50 | +3.4% | $3.4B | -10.9% |
| Oct 28, 2022 | $0.79 | $0.59 | -25.3% | $2.7B | +8.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- The company has become one of the leading enterprises in the industry with a total output of over 400 GW since the end of the first generation in 2026. - Module prices rebounded sequentially, operating performance improved, gross margin increased to 8.3% and net loss narrowed. - Continued to optimize production and regional layout, and maintained close communication with customers. - Actively promoted the layout of the distributed market and expanded diversified system application scenarios. - The production capacity of the third-generation product has a certain scale and will continue to increase. It is estimated that the production capacity of the third-generation product with more than 450W will exceed 40 GW by the end of 2026. - Continued to optimize the energy production and supply chain layout in the energy storage business, focused on high-end markets, and expected the energy supply system to grow more than half year-on-year in 2025.
Guidance
- Expected to reach approximately 100 gigawatts of integrated production capacity by the end of 2026, including 14 gigawatts from overseas facilities. - Expect module shipments to be between 14 gigawatts and 16 gigawatts in the second quarter of 2026, and between 75 gigawatts and 85 gigawatts for the full year 2026, with high-efficiency products accounting for over 60%. - Expect the revenue of the energy storage business to be more than double year-over-year in 2026.
Segment performance
In the first quarter, total module shipments reached 13.7 gigawatts, ranking first in the industry, with over 80% shifted to overseas markets. The non-Fu series has a total output of 240 GW. In the first quarter, high-efficiency products above 640W increased substantially and accounted for nearly 25% of the total shipment. For energy storage business, ESS shipments in the first quarter were about 1.42 GWh, with about 520 MWh recognized as revenue. High-value overseas markets such as Europe and the United States contributed more, and the gross margin improved sequentially.
Risks & headwinds
- Recent geopolitical disruptions have impacted logistics lines, adding temporary pressure on shipping costs and delivery schedules. - There is a time lag in revenue recognition of some projects in the energy storage business, and profit contribution has yet to be fully realized. - Domestic demand in China faces temporary pressure while overseas demand grows steadily.
Analyst Q&A
Q: Philip Shen asked about the outlook for margins in Q2, 3 and 4.
A: Charlie said Q4 gross margin jumped a lot, Q2 is relatively stable, and gross margin in the second half will jump due to new capacity and cost optimization.
Q: Alan Lau asked about ESS business order book and solar business related policies.
A: Related to ESS, expected more business opportunities in Europe, global mix with low China exposure, and for solar business, talked about Section 232 investigation and capacity expansion.
Q: Rajiv Chaudhary asked about average selling prices and costs.
A: Targeting value-added instead of price competition, optimistic about market prices remaining healthy, and cost will be optimized with capacity upgrade and scale expansion.