Emeren Group, a solar and storage project developer, reported a decrease in net revenue from $13.9 million in Q3 2023 to $12.9 million in Q3 2024, primarily due to lower revenue from solar power project development and EPC services, partially offset by increased revenue from electricity generation and DSA. Despite the revenue dip, the company achieved a gross profit of $5.6 million in Q3 2024, maintaining a strong gross margin of 43.8%. The net income attributed to Emeren Group Ltd for Q3 2024 was $4.8 million, bolstered by a $4.6 million foreign exchange gain as the Euro strengthened. Over nine months, net revenue decreased from $60.7 million in 2023 to $57.5 million in 2024, with gross profit slightly down from $19.9 million to $19.3 million. The company's operating profit for Q3 2024 was $2.1 million, and net income was $4.8 million. Emeren Group...Show More

Emeren Group, a solar and storage project developer, reported a decrease in net revenue from $13.9 million in Q3 2023 to $12.9 million in Q3 2024, primarily due to lower revenue from solar power project development and EPC services, partially offset by increased revenue from electricity generation and DSA. Despite the revenue dip, the company achieved a gross profit of $5.6 million in Q3 2024, maintaining a strong gross margin of 43.8%. The net income attributed to Emeren Group Ltd for Q3 2024 was $4.8 million, bolstered by a $4.6 million foreign exchange gain as the Euro strengthened. Over nine months, net revenue decreased from $60.7 million in 2023 to $57.5 million in 2024, with gross profit slightly down from $19.9 million to $19.3 million. The company's operating profit for Q3 2024 was $2.1 million, and net income was $4.8 million. Emeren Group's business development saw robust growth in its IPP assets, contributing 73.2% of total revenue for the period, and the expansion of its DSA model in key markets. The company's future plans include closing over 2 GW of DSA contracts for PV and BESS projects, expected to contribute approximately $100.0 million in revenue over the next three to four years. Additionally, Emeren Group is focusing on high-margin growth areas and leveraging the global shift towards renewable energy, with a significant pipeline of advanced and early-stage solar and storage projects.