Canadian Solar (NASDAQ: CSIQ) reported Q2 EPS of $0.31, $0.18 better than the analyst estimate of $0.13. Revenue for the quarter came in at $636.65 million versus the consensus estimate of $592.5 million.

Total solar module shipments were 850 MW, of which 809 MW were recognized in revenue, compared to 1.03 GW recognized in revenue in the first quarter of 2015, and second quarter shipment guidance in the range of 950 GW to 1,000 GW.

Business Outlook

The Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book, and the global and local financing environment, and is also subject to uncertainty relating to customer final demand and solar project construction schedule. Management's views and estimates are subject to change without notice.

For the third quarter of 2015, the Company expects total module shipments to be in the range of approximately 970MW to 1,020MW, including approximately 70MW of shipments to the Company's utility-scale solar projects that will not be recognized in third quarter 2015 revenue. Total revenue for the third quarter of 2015 is expected to be in the range of $570 million to $620 million, with gross margin expected to be between 12% and 14%. The gross margin guidance for the third quarter of 2015 is expected to be negatively impacted by the U.S. import duty on modules because module shipments to the U.S. are expected to increase significantly.

*** The Street sees Q3 revenue of $669.5 million.

For the full year 2015, the Company maintains its expectation of total module shipments to be in the range of approximately 4.0 GW to 4.3 GW, including 3,300 MW to 3,500 MW of third-party module sales, 235 MW to 275 WW of project and EPC sales, and 460 MW to 490 MW of shipments to projects which will be held on the balance sheet pending the potential launch of a YieldCo. Total revenue for the full year 2015 is expected to be in the range of $2.8 billion to $3.0 billion. Absent the planned change in the Company's energy business model from a build-to-sell to a build, own and operate model, revenue for 2015 would be approximately $1.0 billion to $1.1 billion higher.

*** The Street sees FY15 revenue of $2.93 billion.

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