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Tuesday, August 14, 2018

=Canadian Solar (CSIQ) reported earnings on Tue 14 Aug 2018 (b/o)

Canadian Solar beats by $0.02, misses on revs; guides Q3 revs below consensus; lowers FY18 solar module guidance 
  • Reports Q2 (Jun) earnings of $0.26 per share, $0.02 better than the Capital IQ Consensus of $0.24; revenues fell 6.1% year/year to $650.1 mln vs the $711.53 mln Capital IQ Consensus. Solar module shipments were 1,700 MW, including 246 MW shipped to the Company's own solar projects not recognized into revenue in the quarter (guidance called for 1.50-1.60 GW).
  • Co issues downside guidance for Q3, sees Q3 revs of $790-840 mln vs. $1.11 bln Capital IQ Consensus Estimate.
  • For the third quarter of 2018, the Company expects total solar module shipments to be in the range of 1.5 GW to 1.6 GW, including approximately 210 MW of shipments to the Company's utility-scale, solar power projects that may not be recognized as revenue in third quarter 2018.
  • Given global market changes following the new policy announcement in China effective on May 31, 2018 and the policy and market changes in other key markets, the Company is updating its full year 2018 total module shipment guidance to be in the range of 6.0 GW to 6.2 GW, compared to 6.6 GW to 7.1 GW previously.

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