Emeren Group Q2 Net Income Declines; Revenue Down 11%

(RTTNews) - Emeren Group (SOL) reported that its second quarter net income attributed to Emeren declined to $392 thousand from $8.35 million, last year. Income per ADS was $0.01 compared to $0.14. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.07, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA declined to $4.62 million from $9.31 million.

Total net revenues declined to $30.06 million from $33.85 million. Analysts on average had estimated $30.06 million in revenue.

For fiscal 2024, the company expects: earnings per ADS of approximately $0.43; and revenue in a range of $150 million - $160 million.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.