Emeren Group Ltd ADR Down 9.16% To $2.34 After Earnings Miss

Wednesday, November 22, 2023 - Emeren Group Ltd ADR (SOL) reported downside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Emeren Group Ltd ADR were at $0.06. The company missed those estimates with an EPS loss of $0.17 per share. The loss of $0.17 per share (which represents a -383% EPS surprise) led to the company's profits falling 440% compared to last year when the firm reported an EPS of $0.05. The decline in Emeren Group Ltd ADR's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were downbeat at $13.9 million. That represents a 51.72% decrease in revenues from the year-ago report and is 50.70% lower than consensus estimates set at $28.3 million.

The stock is down 9.16% to $2.34 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Emeren Group Ltd ADR a Bearish Sentiment Rank from InvestorsObserver.

Emeren Group Ltd ADR has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 9, putting Emeren Group Ltd ADR in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $2.35 on November 10, 2023 and set a 52-week high on January 24, 2023 at $5.6.

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.