Canadian Solar (NASDAQ: CSIQ) reported Q4 EPS of $1.01, $0.05 better than the analyst estimate of $0.96. Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.14 billion.

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 financing environment. It is also subject to uncertainty relating to final customer demand and solar project construction and sale schedules. Management's views and estimates are subject to change without notice.

For the first quarter of 2018, the Company expects total solar module shipments to be in the range of approximately 1.30 GW to 1.35 GW, including approximately 65 MW of shipments to the Company's utility-scale solar power projects that may not be recognized as revenue in first quarter 2018. Total revenue for the first quarter of 2018 is expected to be in the range of $1,370 million to $1,400 million, which includes recognized revenue from the sales of solar projects during the quarter. Gross margin for the first quarter is expected to be between 10.0% and 12.0%, which reflects the impact of lower margin U.S. solar projects we have already sold in the quarter.

For the full year 2018, the Company expects total module shipments to be in the range of 6.6 GW to 7.1 GW. Total revenue for the full year 2018 is expected to be in the range of $4.4 billion to $4.6 billion. We expect approximately 53% of total revenue for 2018 to come from our Solar Module and Components Business, while the balance will come from our Energy Business. The Energy Business revenue will mainly come from monetization of the Company's solar power plants in the U.S., Japan, China and the UK. The Company expects its cost of production will decrease throughout the year as material costs decrease and new, higher efficiency cell and module capacity comes online.

Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar commented, "Moving into 2018, we have seen price adjustment throughout the solar value chain. We expect that our technology, new products and the increase in vertical integration along the manufacturing process will help the Company further build upon its leadership position."

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