Canadian Solar Reports First Quarter 2019 Results
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Canadian Solar (CSIQ) Tops Q1 EPS by 20c, Revenues Beat; Offers FY19 Revenue Guidance Above Consensus
May 30, 2019 6:07 AM EDTCanadian Solar (NASDAQ: CSIQ) reported Q1 EPS of ($0.29), $0.20 better than the analyst estimate of ($0.49). Revenue for the quarter came in at $484.7 million versus the consensus estimate of $469.6 million.
Total solar module shipments were 1,575 MW, compared to 1,951 MW in the fourth quarter of 2018 and first quarter 2019 guidance of 1.3 GW to 1.4 GW.Net revenue was $484.7 million, compared to $901.0 million in the fourth quarter of 2018 and first quarter 2019 guidance of $450 million to $480 million.Gross margin was 22.2%, compared 28.3% in the fourth quarter 2018, after excluding the benefit of a U.S. countervailing duty (CVD) reversal of... More