ReneSola Ltd. (ADR) (SOL) reported quarterly earnings results on Monday, May-23-2016. The company said it had a profit of $0.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.09. Analysts had a consensus of $-0.03. The company posted revenue of $260.70 million in the period, compared to analysts expectations of $256.05 million. The company’s revenue was down -25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.
ReneSola Ltd. (ADR) opened for trading at $1.21 and hit $1.26 on the upside on Friday, eventually ending the session at $1.23, with a gain of 2.50% or 0.03 points. The heightened volatility saw the trading volume jump to 7,47,098 shares. Company has a market cap of $125 M.
ReneSola Ltd (ReneSola) is a holding company. The Company is a brand and technology provider as well as manufacturer of solar power products based in China. The Company provides its customers with solar power products and processing services. It provides solar power products to a network of suppliers and customers which includes manufacturers of solar cells and modules and distributors installers and end users of solar modules. The Company manufactures solar-grade polysilicon solar wafers cells and modules. The Company offers monocrystalline and multicrystalline wafers of various sizes and thicknesses. In wafer manufacturing it slices wafers with a thickness less than 180 microns. The Company’s subsidiaries include ReneSola Zhejiang Ltd. Sichuan ReneSola Silicon Material Co. Ltd. ReneSola Jiangsu Ltd Sichuan Ruiyu Photovoltaic Materials Co. Ltd. ReneSola Shanghai Ltd. and ReneSola Deutschland GmbH among others.