Seeking Alpha

Canadian Solar spikes 6% following raised shipment guidance

  • Canadian Solar (CSIQ) +6% premarket after raising estimates for Q3 solar module shipments to a range of 460-480 MW, exceeding earlier guidance of 410-430 MW, and sees Q3 revenue of $470M-$495M.
  • CSIQ now expects gross margin of 18%-20% vs. earlier guidance of 10%-12%, primarily due to the successful execution of its total solutions business strategy including the completion and sales of solar power plants.
  • For the three-month period as well as for the nine months YTD, CSIQ expects positive net income.
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