ReneSola Reports Preliminary Q2 Net Profit - Quick Facts

(RTTNews) - ReneSola Ltd (SOL) said, based on preliminary unaudited results, the company now expects second quarter revenue to be more than $25 million, up from prior guidance of $22 million to $25 million. Gross margin is expected to exceed 20%, compared to prior guidance of 17% to 20%. The company expects a profitable second quarter with positive net profits.

Yumin Liu, ReneSola Power CEO, said, "Business momentum coming into the second quarter continued to improve. Solid revenue, coupled with our continued focus on prudent cost-control efforts, has enabled us to return to profitability."

ReneSola Power plans to release its second quarter financial results on August 27, 2020.