Canadian Solar Shares Jumped 11% as Q2 Earnings Beat Estimates

Tiger Newspress2022-08-18

Canadian Solar shares jumped 11% as Q2 earnings beat estimates.Canadian Solar Q2 GAAP EPS of $1.07 beats by $0.40. Revenue of $2.31B (+61.5% Y/Y) beats by $80M.

Solar module shipments of 5.06 GW, at the high end of 4.9 GW to 5.1 GW guidance range.

GlobalEnergy solar project pipeline expands to 26 GWp and storage pipeline expands to over 31 GWh, as of June 30, 2022.

For the third quarter of 2022, the Company expects total revenues to be in the range of $2.0 billion to $2.1 billion ($1.94B consensus). Gross margin is expected to be between 15.0% and 16.5%. Total module shipments recognized as revenues by CSI Solar are expected to be in the range of 6.0 GW to 6.2 GW, including approximately 140 MW to the Company's own projects.

For the full year of 2022, the Company raises total revenue guidance to $7.5 billion to $8.0 billion ($7.25B consensus), from $7.0 billion to $7.5 billion previously. The Company expects full year volume targets for CSI Solar and Global Energy to remain unchanged from the ranges communicated in the prior quarter: total module shipments of 20 GW to 22 GW and battery storage shipments of 1.8 GWh to 1.9 GWh (CSI Solar), and total project sales of 2.1 GW to 2.6 GW (Global Energy).

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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DarkFate
2022-08-19
DarkFate
Like
SPOT_ON
2022-08-19
SPOT_ON
Ok
DZL
2022-08-18
DZL
Occidental, Chevron, BP, Halliburton, Callon and Exxon Mobil rose between 1% and 3%
DZL
2022-08-18
DZL
global energy supply crunch
hotwheels
2022-08-18
hotwheels
Canadian Solar Q2 GAAP EPS of $1.07 beats by $0.40. Revenue of $2.31B (+61.5% Y/Y) beats by $80M.
WifeWhyWhy
2022-08-18
WifeWhyWhy
K

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