ReneSola Q2 Profit Declines, Revenues Nearly Double - Quick Facts

(RTTNews) - Solar project developer ReneSola Ltd. (SOL) reported Thursday that net income attributed to ReneSola for the second quarter declined to $3.09 million or $0.06 per share from $5.12 million or $0.13 per share in prior-year quarter.

Excluding items, adjusted net income attributed to ReneSola was $3.64 million or $0.08 per share, compared to $4.97 million or $0.13 per share in year-ago quarter.

However, revenue for the quarter nearly doubled to $26.19 million from $13.57 million in the same quarter last year.

Looking ahead, the company projects revenue for the third quarter in a range of $8 million to $10 million and continues to expect revenue for the full-year 2020 in the range of $80 million to $100 million.