CSIQ - Canadian Solar indicates strong Q4 but sees Q1 revenues below consensus

Canadian Solar ( NASDAQ: CSIQ ) -4.4% in Friday's trading after issuing better than expected preliminary Q4 results but guiding Q1 revenues below analyst consensus estimates.

For Q4 2022, Canadian Solar ( CSIQ ) said it expects to report revenues of $1.97B, above its $1.8B-$1.9B guidance range and in line with $1.86B consensus.

Q4 total module shipments recognized as revenues by CSI Solar are expected to come in at 6.4 GW, exceeding guidance of 6.0-6.3 GW, and gross margin is seen at 17.7%, near the upper end of the 16%-18% guidance range.

For Q1 2023, Canadian Solar ( CSIQ ) forecasts Q1 revenues of $1.6B-$1.8B, below the $2.04B analyst consensus.

The company forecasts Q1 total module shipments recognized as revenues at 5.9-6.2 GW, with the decline due to normal seasonality, and gross margin is expected to be in the 18%-20% range.

For FY 2023, the company reaffirms total module shipment guidance of 30-35 GW.

Canadian Solar ( CSIQ ) shares have gained 20% so far this year and 25% during the past year .

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