Canadian Solar (CSIQ) Tops Q2 EPS by 31c; Guides Q3 Revenue Below Views

Canadian Solar (NASDAQ: CSIQ) reported Q2 EPS of $0.68, $0.31 better than the analyst estimate of $0.37. Revenue for the quarter came in at $805.9 million versus the consensus estimate of $717.47 million.

Total solar module shipments recognized in revenue were 1,290 MW, compared to 1,172 MW recognized in revenue in the first quarter of 2016, and second quarter guidance in the range of 1,200 MW to 1,250 MW.

GUIDANCE:

The Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book and the global financing environment. It is also subject to uncertainty relating to customer final demand and solar project construction schedule. Management's views and estimates are subject to change without notice.

For the third quarter of 2016, the Company expects total solar module shipments to be in the range of approximately 1.2 GW to 1.3 GW, including approximately 10 MW of shipments to the Company's utility-scale solar power projects that may not be recognized in third quarter 2016 revenue.

Canadian Solar sees Q3 2016 revenue of $660 - $710 million, versus the consensus of $788.2 million.

Canadian Solar sees FY2016 revenue of $3.0 - $3.2 billion, versus the consensus of $3.16 billion.

For earnings history and earnings-related data on Canadian Solar (CSIQ) click here.

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