Canadian Solar (CSIQ) Q3 Earnings: What's In The Cards?
Zacks Investment Research | Nov 12, 2018 09:07PM ET
Canadian Solar Inc. (NASDAQ:CSIQ) is set to report third-quarter 2018 results on Nov 15, before market open.
In the last reported quarter, the company witnessed a negative earnings surprise of 21.21%. However, the bottom line outpaced the Zacks Consensus Estimate in two of the trailing four quarters, the average beat being 22.49%.
Let’s see how things are shaping up prior to this announcement.
Factors at Play
During the second quarter, Canadian Solar witnessed dismal year-over-year top-line performance due to deferral of certain projects sales resulting from China’s latest solar policy. The company also expects to face volatility in certain key markets such as the United States and India in the near term, thanks to implementation of trade protectionism in these nations.
Moreover, management lowered the revenue guidance for 2018 on expected reduction in shipments volume to the Chinese market in the second half of the year and reduced module average selling price.
Considering these factors, we may expect Canadian Solar’s upcoming quarterly results to reflect weak top-line performance. The Zacks Consensus Estimate forthird-quarter revenues is pegged at $806 million, reflecting an annual decline of 11.6%. However, the consensus estimate remains within the company’s third-quarter guidance range of $709-$814 billion.
Canadian Solar Inc. Price and EPS Surprise
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