Canadian Solar Reports Third Quarter 2020 Results

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Go back to Canadian Solar Reports Third Quarter 2020 Results

Canadian Solar (CSIQ) Tops Q3 EPS by 20c, Revenues Beat

November 19, 2020 6:12 AM EST

Canadian Solar (NASDAQ: CSIQ) reported Q3 EPS of $0.15, $0.20 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $914.36 million versus the consensus estimate of $861.93 million.

Highlights

Solar module shipments of 3.2 GW, exceeding guidance of 2.9 GW to 3.1 GW.31% sequential growth in revenue to $914 million, above guidance of $840 million to $890 million.Gross margin of 19.5%, well above guidance of 14% to 16%.Net income attributable to Canadian Solar of $8.8 million, or $0.15 per diluted share, after the adverse impact of a $12.6 million withholding tax expense in China related to a special... More