NYSE$SOL
Emeren Group Ltd-ADR · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Achieved solid progress with disciplined growth and strong operating discipline.
Emeren Group reported $30.1 million in revenue, a gross profit of $9.4 million, and a net income of $0.4 million in Q2 2024. Despite a year-over-year revenue decline of 11% due to reduced RTB sales, the company achieved a rebound from a net loss in Q1 2024. The company reaffirmed full year revenue guidance of $150 to $160 million.
- Generated $30.1 million in revenue, underpinned by a gross profit of $9.4 million and a gross margin of 31.2%.
- Operating profit was $3.0 million and net income was $0.4 million, reflecting a disciplined approach to growth.
- Signed over 2 GW of projects with 8 DSA partners in Europe, with contracted revenue of over $60 million expected over the next 2-3 years.
- IPP assets exhibited strong growth and profitability, contributing approximately 29% of total revenue for the quarter.
Headline financials
Revenue & EPS history
Emeren Group · Revenue · Quarterly
$30.1M
Forward guidance
The company anticipates Q3 revenue between $25 to $28 million, with gross margin between 35% and 38%. Full year 2024 revenue is expected to range from $150 to $160 million, with a gross margin of approximately 30%. Net income in 2024 is expected to be around $22 million, with earnings per ADS of approximately 43 cents. IPP revenue is expected to be between $24 million and $26 million, with a gross margin of approximately 50%. DSA revenue is expected to be around $20 million in the second half of 2024.
Tailwinds
- Advancing early-stage projects.
- Securing additional DSA partnerships in Europe and the U.S.
- Optimizing strategies to maximize the value of our development pipeline.
- Q3 revenue will fall within the range of $25 to $28 million, with gross margin between 35% and 38%.
- Operating profit is expected to grow in line with revenue, with a continued focus on cost management and efficiency.
Headwinds
- Full-year net income will be affected by the earlier write-offs and foreign exchange losses.
- Revenue declined 11% year-over-year, primarily due to reduced RTB sales in Europe.
- Net income was reduced by an approximately $2.0 million write-off related to canceled projects.
- Net income was reduced by an unrealized foreign exchange loss of $0.8 million.
- Operating expenses were higher than the $5.5 million in Q1 2024, primarily due to an approximately $2.0 million write-off related to canceled projects.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 15 quarterly earnings reports · overlaid with Q2 2024
-1.2%
Avg return
Earnings day
+1.5%
Avg return
5 days after
-1.1%
Avg return
30 days after
33%
20 / 60 earnings
Positive
+24.5%
Q2 2013
Best reaction
-33.3%
Q3 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -0.5% | -2.2% | +4.9% | |
| Q2 2025 | +0.0% | +0.0% | +1.6% | |
| Q1 2025 | +10.3% | -1.8% | +13.3% | |
| Q4 2024 | -19.0% | +12.4% | -6.2% | |
| Q3 2024 | -7.7% | -7.9% | -13.3% | |
| Q2 2024 | +21.7% | +22.0% | +38.4% | |
| Q1 2024 | -6.3% | -10.7% | -28.8% | |
| Q4 2023 | +15.3% | +17.6% | -6.0% | |
| Q3 2023 | -16.2% | -12.4% | +6.4% | |
| Q2 2023 | -3.8% | +0.0% | -9.9% | |
| Q1 2023 | +3.2% | +7.1% | +11.5% | |
| Q4 2022 | +1.2% | +9.7% | +2.5% | |
| Q3 2022 | +12.5% | +4.3% | -3.4% | |
| Q2 2022 | -3.4% | +5.6% | -7.1% | |
| Q1 2022 | +3.7% | -6.9% | -2.0% | |
| Q4 2021 | -8.3% | -13.3% | -27.9% | |
| Q3 2021 | +4.7% | +2.2% | +7.5% | |
| Q2 2021 | -1.1% | — | — | |
| Q1 2021 | +17.4% | — | — | |
| Q4 2020 | -11.9% | — | — | |
| Q3 2020 | -21.6% | — | — | |
| Q2 2020 | -9.1% | — | — | |
| Q1 2020 | +7.0% | — | — | |
| Q4 2019 | -5.8% | — | — | |
| Q3 2019 | -3.8% | — | — | |
| Q2 2019 | +10.4% | — | — | |
| Q1 2019 | -7.9% | — | — | |
| Q4 2018 | +0.0% | — | — | |
| Q3 2018 | -9.0% | — | — | |
| Q2 2018 | -4.4% | — | — | |
| Q1 2018 | +7.6% | — | — | |
| Q4 2017 | -2.6% | — | — | |
| Q3 2017 | -4.0% | — | — | |
| Q2 2017 | -7.8% | — | — | |
| Q1 2017 | -2.8% | — | — | |
| Q4 2016 | -2.1% | — | — | |
| Q3 2016 | -3.0% | — | — | |
| Q2 2016 | -4.7% | — | — | |
| Q1 2016 | +11.4% | — | — | |
| Q4 2015 | -3.4% | — | — | |
| Q3 2015 | -3.7% | — | — | |
| Q2 2015 | -6.8% | — | — | |
| Q1 2015 | -7.7% | — | — | |
| Q4 2014 | +20.7% | — | — | |
| Q3 2014 | -15.1% | — | — | |
| Q2 2014 | -10.9% | — | — | |
| Q1 2014 | -5.9% | — | — | |
| Q4 2013 | +1.3% | — | — | |
| Q3 2013 | -33.3% | — | — | |
| Q2 2013 | +24.5% | — | — | |
| Q1 2013 | -5.4% | — | — | |
| Q4 2012 | -7.9% | — | — | |
| Q2 2012 | -10.1% | — | — | |
| Q4 2010 | -1.7% | — | — | |
| Q4 2009 | -1.7% | — | — | |
| Q3 2011 | +17.0% | — | — | |
| Q1 2011 | -5.7% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q2 2010 | +17.0% | — | — | |
| Q1 2010 | +3.2% | — | — |
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