EMEREN GROUP Reports Earnings Results for FY2023 Q2, as of June 30 2023
September 7, 2023
🌥️Earnings Overview
EMEREN GROUP ($NYSE:SOL) released their earnings report for the second quarter of FY2023 on September 5 2023, providing figures from June 30 2023. Their total revenue rose dramatically from 8.2 million in the same period last year to 33.9 million this year. Additionally, net income for the quarter was 8.4 million, a notable improvement from the net loss of -0.2 million for the same period in the previous year.
Price History
The stock opened at $3.3 and closed at $3.4, an increase of 3.7% from its previous closing price of $3.3. The company’s CEO stated that the second quarter results were a direct result of EMEREN GROUP‘s strong commitment to innovation and customer service, which allowed them to outperform their competitors and set a record high for the company in terms of total revenue and earnings per share. He also noted that the company is well-positioned to continue its upward growth trajectory in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Emeren Group. More…
| Total Revenues | Net Income | Net Margin |
| 96.29 | 5.37 | 1.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Emeren Group. More…
| Operations | Investing | Financing |
| -41.56 | -30.96 | -65.95 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Emeren Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 477.69 | 98.93 | 5.94 |
Key Ratios Snapshot
Some of the financial key ratios for Emeren Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -11.7% | -30.2% | 5.2% |
| FCF Margin | ROE | ROA |
| -82.2% | 0.9% | 0.7% |
Analysis
At GoodWhale, we take pride in providing our clients with the best analysis of a company’s fundamentals. Our evaluation of EMEREN GROUP has revealed that the company is a high-risk investment in terms of financial and business aspects. We have identified two risk warnings in their income sheet and balance sheet. To view the full results of our investigation, please visit our website, goodwhale.com. Through GoodWhale’s advanced algorithm, you can access an in-depth analysis of EMEREN GROUP. With our detailed report, you can easily make informed decisions about any potential investments. More…
Peers
ReneSola Ltd, Xinte Energy Co Ltd, SPI Energy Co Ltd, and Solar Alliance Energy Inc are all solar energy companies. Xinte Energy Co Ltd is a Chinese company that manufactures solar cells. SPI Energy Co Ltd is a Hong Kong-based company that manufactures solar cells, modules, and systems. Solar Alliance Energy Inc is a Canadian company that develops, finances, installs, and operates solar projects.
– Xinte Energy Co Ltd ($SEHK:01799)
Xinte Energy Co Ltd is a Chinese state-owned enterprise engaged in the exploration, development, production, and sale of coal and other minerals. As of December 31, 2020, the company had a market capitalization of 23.45 billion yuan. The company’s return on equity was 35.77% as of the same date. Xinte Energy is one of the largest coal producers in China and is also engaged in the production of other minerals such as iron ore, copper, and lead.
– SPI Energy Co Ltd ($NASDAQ:SPI)
SPI Energy Co Ltd, a renewable energy company, engages in the design, development, manufacture, and sale of solar photovoltaic products for residential, commercial, and industrial applications in the People’s Republic of China, the United States, Germany, Japan, South Korea, Singapore, Italy, the United Kingdom, Australia, Switzerland, Spain, and internationally.
– Solar Alliance Energy Inc ($TSXV:SOLR)
Solar Alliance Energy Inc is a Canadian solar energy company that develops, owns, and operates residential and commercial solar installations. The company has a market capitalization of 17.87 million as of 2022 and a return on equity of -297.1%. Solar Alliance Energy Inc has a portfolio of over 1,000 solar installations across Canada and the United States. The company offers solar energy solutions for homeowners, businesses, and government organizations.
Summary
EMEREN GROUP investors have good cause to be optimistic: the company has just reported a substantial year-on-year increase in total revenue for the second quarter of FY2023, reaching USD 33.9 million. Net income for the quarter was also up strongly, from a loss of -0.2 million in the previous quarter to an income of USD 8.4 million. In response to this positive earnings report, the company’s stock price surged on September 5 2023. With such strong results, investors have reason to be confident in the company’s future prospects.
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