Emeren Group rises after beating Q2 revenue estimates

Emeren

20/08/2024 16:16

(Updates)
    ** Shares of renewable energy firm Emeren Group  SOL.N  7%
to $1.725
    ** Co posts Q2 revenue of $30.1 mln, beating estimates of
$21.1 mln - LSEG data
    ** SOL reaffirms full-year revenue outlook to be in the
range of $150 to $160 mln, well above analysts' estimates of
$139.9 mln
    ** Co also reaffirms 2024 profit forecast of $22 mln vs
analysts' expectations of $16.2 mln
    ** Including session's moves, stock is down ~37% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))