Canadian Solar (CSIQ) Tops Q2 EPS by 38c, Revenues Beat

Canadian Solar (NASDAQ: CSIQ) reported Q2 EPS of $0.34, $0.38 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $696 million versus the consensus estimate of $662.95 million.

Second Quarter 2020 Highlights

• 31% sequential increase in total module shipments to 2.9 GW, exceeding guidance of 2.5 GW to 2.7 GW.
• Net revenue of $696 million exceeding guidance of $630 million to $680 million.
• Gross margin of 21.2% exceeding guidance of 18.5% to 20.5%.
• 17% reduction in operating expenses compared to the second quarter of 2019.
• Net income attributable to Canadian Solar of $20.6 million or $0.34 per diluted share.
• Updated shipment guidance to 11 GW to 12 GW for 2020, and 18 GW to 20 GW for 2021.

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

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