Earnings Previews: JinkoSolar, Li-Cycle

After U.S. markets closed 0n Wednesday, Disney reported adjusted earnings per share (EPS) that beat estimates and revenue that fell less than 1% short of estimates and was up 3.8% year over year. Cost savings and impairment charges led to the adjusted EPS beat; on a GAAP basis, Disney posted a loss per share of $0.25. The stock traded up about 1.7% shortly after the opening bell.

Coeur Mining missed estimates on both the top and bottom lines. The mining company has agreed with its revolving credit lenders to increase its maximum net leverage from 4.25× to 5.5× in the third quarter before reverting in steps to 3.5× in the second quarter of next year. Coeur also agreed to sell the $50 million in new common shares through three banks. The stock traded down about 0.4%.

Plug Power missed the consensus loss per share estimate by nearly 50%, posting a loss of $0.40 where $0.27 was expected. Revenue was better than expected and up 72% year over year. The company affirmed fiscal-year revenue guidance in a range of $1.2 billion to $1.4 billion. The company’s green hydrogen projects have been delayed, and production guidance is dubious at best. Shares traded down 12% early Thursday.

Before markets opened on Thursday, Alibaba reported better-than-expected EPS and revenue. The big question is whether China’s e-commerce behemoth can weather the slowing of China’s economy. Cost cutting, including layoffs, helped boost Alibaba’s performance in the quarter. The stock traded up about 3.3%.

After Thursday’s closing bell, quantum computing company IonQ and News Corp are set to report quarterly results. No notable earnings reports are due on Friday.

Here is a look at what analysts expect to hear from two companies reporting quarterly earnings first thing Monday morning.


China-based solar module maker JinkoSolar Holding Co. Ltd. (NYSE: JKS) has suffered a share price decline of almost 40% over the past 12 months. So far in August, shares are down nearly 11% for the month. The company has missed EPS estimates in four of the past eight quarters while beating revenue estimates in all but one.

In a move to cut its costs, the company sold a manufacturing site in China to the provincial government for $622 million in May. That was also the month that U.S. Homeland Security officials raided company offices in San Francisco and Jacksonville, Florida.

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