NYSE$SOL
Emeren Group Ltd-ADR · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Emeren Group reported solid profitability despite softer-than-anticipated revenue due to project sales delays.
Emeren Group's Q3 2024 revenue reached $12.9 million, with a gross profit of $5.6 million and a gross margin of 43.8%. The company achieved an operating profit of $2.1 million and a net income of $4.8 million, supported by a foreign exchange gain. Focus remains on high-margin growth, with the IPP segment contributing significantly.
- Revenue reached $12.9 million, impacted by delays in project sales closings.
- Gross profit was $5.6 million, with a gross margin of 43.8%.
- Net income was $4.8 million, supported by foreign exchange gains.
- The Independent Power Producer (IPP) segment generated $9.4 million, driven by seasonal strength in European assets.
Headline financials
Revenue & EPS history
Emeren Group · Revenue · Quarterly
$12.9M
Forward guidance
Emeren Group anticipates Q4 revenue between $40 and $45 million, with a projected gross margin of 20% to 25%. Adjusted full-year revenue guidance is $97 to $102 million, with an expected gross margin of approximately 30%. Expects to achieve EBITDA of $15 million to $20 million in 2024.
Tailwinds
- Strong pipeline and favorable market conditions expected to drive substantial growth in Q4.
- IPP revenue expected to be between $24 million and $26 million with gross margin of around 50% for 2024.
- DSA expected to contribute more than $20 million in revenue during 2024.
- EBITDA contributions from IPP and DSA segments are expected to exceed $50 million in 2025.
- Strengthening presence in fast-growing solar and battery storage markets.
Headwinds
- Certain project sales in Europe may extend into 2025 due to delays in government approvals.
- Full-year revenue guidance adjusted to a range of $97 to $102 million due to strategic move from sales to IPP for Hungarian projects and revised timing of project sales.
- Revenue was lower than anticipated due to timing issues, particularly delays in government approvals for three projects in Europe.
- Cash used in operating activities was $5.6 million.
- Cash and cash equivalents decreased to $35.8 million compared to $50.8 million in Q2 2024.
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 Q3 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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