ReneSola Power Reports Prelim. Q3 Profit - Quick Facts

(RTTNews) - ReneSola Ltd (SOL) said, based on preliminary unaudited results, the company expects a profitable third quarter with at least $2 million in net profits. Gross margin is expected to exceed 42%, compared to prior guidance of 38% to 42%.

ReneSola Ltd now expects third quarter revenue to be at the high end of the previously announced guidance range of $8 million to $10 million.

Yumin Liu, ReneSola Power CEO, said, "Solid revenue, coupled with our strong focus on prudent cost control, has enabled us to deliver robust bottom-line results."

ReneSola Power plans to release third quarter results on December 1, 2020.