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Emeren Group (SOL) Reports Q1 Loss, Revenues Rise 15% Y/Y
SOLEmeren(SOL) zacks.com·2024-05-27 14:01

Emeren Group Ltd’s (SOL) share price declined 7.1% to reach 1.95onMay24followingthecompany’slatestquarterlyrelease.ThecompanyincurredalossperAmericanDepositaryShare(“ADS”)of8centsforthefirstquarterof2024,whichmissedtheZacksConsensusEstimateofbreak−evenearnings.Thefigurealsoreflectsadeteriorationfromtheyear−agoquarter’sreportedfigureofbreak−evenearnings.RevenuesEmeren’sfirst−quarternetrevenuesof1.95 on May 24 following the company’s latest quarterly release.The company incurred a loss per American Depositary Share (“ADS”) of 8 cents for the first quarter of 2024, which missed the Zacks Consensus Estimate of break-even earnings. The figure also reflects a deterioration from the year-ago quarter’s reported figure of break-even earnings.RevenuesEmeren’s first-quarter net revenues of 14.8 million improved a solid 14.8% from $12.9 million re ...