CSIQ - Canadian Solar GAAP EPS of $1.19 beats by $0.66 revenue of $1.7B misses by $10M
2023-05-18 06:01:53 ET
- Canadian Solar press release ( NASDAQ: CSIQ ): Q1 GAAP EPS of $1.19 beats by $0.66 .
- Revenue of $1.7B (+36.0% Y/Y) misses by $10M .
- 66% increase in solar module shipments year-over-year ("yoy") to 6.1 GW, in line with guidance of 5.9 GW to 6.2 GW.
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For the second quarter of 2023, the Company expects total revenue to be in the range of $2.4 billion to $2.6 billion. Gross margin is expected to be between 19% and 21%. Total module shipments recognized as revenues by CSI Solar are expected to be in the range of 8.1 GW to 8.4 GW, including approximately 60 MW to the Company's own projects.
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For the full year of 2023, the Company reiterates its prior outlook for CSI Solar's total module shipments to be in the range of 30 GW to 35 GW. CSI Solar's battery storage shipments are expected to be in the range of 1.8 GWh to 2.0 GWh, representing this year's transition from white label to own manufactured product. The Company's total revenue is now expected to be in the range of $9.0 billion to $9.5 billion from the prior range of $8.5 billion to $9.5 billion.
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Canadian Solar GAAP EPS of $1.19 beats by $0.66, revenue of $1.7B misses by $10M