RTTNews | Dec 7, 2021 04:13PM EST

16:13 Tuesday, December 7, 2021 (RTTNews.com) - ReneSola Ltd. (SOL) revealed a profit for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $0.71 million, or $0.01 per share. This compares with $2.11 million, or $0.04 per share, in last year's third quarter.

Excluding items, ReneSola Ltd. reported adjusted earnings of $1.69 million or $0.02 per share for the period.

Analysts on average had expected the company to earn $0.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 53.1% to $15.57 million from $10.17 million last year.

ReneSola Ltd. earnings at a glance:

-Earnings (Q3): $0.71 Mln. vs. $2.11 Mln. last year.-EPS (Q3): $0.01 vs. $0.04 last year.-Analyst Estimates: $0.04-Revenue (Q3): $15.57 Mln vs. $10.17 Mln last year.

-Guidance:Next quarter revenue guidance: $21 - $27 MlnFull year revenue guidance: $77 - $83 Mln

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