CSIQ - Canadian Solar GAAP EPS of $1.07 beats by $0.40 revenue of $2.31B beats by $80M raises FY22 revenue guidance

• Canadian Solar press release ( NASDAQ: CSIQ ): Q2 GAAP EPS of $1.07 beats by $0.40 .
• Revenue of $2.31B (+61.5% Y/Y) beats by $80M .
• Solar module shipments of 5.06 GW, at the high end of 4.9 GW to 5.1 GW guidance range.
• Global Energy solar project pipeline expands to 26 GWp and storage pipeline expands to over 31 GWh, as of June 30, 2022.

• For the third quarter of 2022, the Company expects total revenues to be in the range of $2.0 billion to $2.1 billion ($1.94B consensus). Gross margin is expected to be between 15.0% and 16.5%. Total module shipments recognized as revenues by CSI Solar are expected to be in the range of 6.0 GW to 6.2 GW, including approximately 140 MW to the Company's own projects.

  For the full year of 2022, the Company raises total revenue guidance to $7.5 billion to $8.0 billion ($7.25B consensus), from $7.0 billion to $7.5 billion previously. The Company expects full year volume targets for CSI Solar and Global Energy to remain unchanged from the ranges communicated in the prior quarter: total module shipments of 20 GW to 22 GW and battery storage shipments of 1.8 GWh to 1.9 GWh (CSI Solar), and total project sales of 2.1 GW to 2.6 GW (Global Energy).

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