Canadian Solar (CSIQ) Tops Q2 EPS by 59c

Canadian Solar (NASDAQ: CSIQ) reported Q2 EPS of $1.07, $0.59 better than the analyst estimate of $0.48. Revenue for the quarter came in at $2.3 billion versus the consensus estimate of $2.23 billion.

• Solar module shipments of 5.06 GW, at the high end of 4.9 GW to 5.1 GW guidance range.
• 62% increase in revenue year-over-year ("yoy") to $2.31 billion, above the high end of $2.2 billion to $2.3 billion guidance range.
• 16.0% gross margin exceeds the guidance range of 14.5% to 15.5%.
• Net income attributable to Canadian Solar of $74 million, or $1.07 per diluted share.
• Accelerating upstream capacity expansion plans to further increase control over supply chain.
• Global Energy solar project pipeline expands to 26 GWp and storage pipeline expands to over 31 GWh, as of June 30, 2022.
• Carve-out IPO of CSI Solar Co., Ltd. ("CSI Sola\" or the "CSI Solar subsidiary") remains on track awaiting completion of the CSRC registration.

For earnings history and earnings-related data on Canadian Solar (CSIQ) click here.

You May Also Be Interested In

• Biden Expected to Remove Tariff Exemption for Bifacial Solar Panel Imports - Reuters
• S&T Bancorp (STBA) Tops Q1 EPS by 3c
• Home Bancshares (HOMB) Tops Q1 EPS by 3c