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Canadian Solar (CSIQ) Tops Q3 EPS Views; Boosts FY14 Shipment Outlook

November 12, 2014 6:20 AM

Canadian Solar (NASDAQ: CSIQ) reported Q3 EPS of $1.75, $0.59 better than the analyst estimate of $1.16. Revenue for the quarter came in at $914.4 million versus the consensus estimate of $803.24 million.

Solar module shipments were 770 MW, compared to 646 MW in the second quarter of 2014 and third quarter guidance in the range of 720 MW to 750 MW.

For the fourth quarter of 2014, the Company expects module shipments to be in the range of approximately 810 MW to 860 MW. Total revenue for the fourth quarter of 2014 is expected to be in the range of $925 million to $975 million, with gross margin expected to be between 17% and 19%. The gross margin guidance for the fourth quarter of 2014 factors in the impact of the U.S. trade case, the appreciation of the U.S. dollar, and the mix of project sales expected to close in Canada.

For full year 2014, the Company is increasing its annual module shipment guidance to be in the range of 2.73 GW to 2.78 GW, compared to a range of 2.5 GW to 2.7 GW previously. The Company is also increasing its revenue guidance for 2014 to the range of approximately $2.93 billion to $2.98 billion, compared to a range of $2.7 billion to $2.9 billion previously.

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

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