Canadian Solar (CSIQ) To Report Q4 Earnings: What's In Store?
Zacks Investment Research | Mar 22, 2020 10:29PM ET
Canadian Solar Inc. (NASDAQ:CSIQ) is expected to report fourth-quarter and 2019 results on Mar 26, before market open.
In the last reported quarter, the company delivered a negative earnings surprise of 25%.However, the bottom line outpaced the Zacks Consensus Estimate in three of the trailing four quarters, the average beat being 82.23%.
Let's see how things have shaped up prior to this announcement.
Factors at Play
Sale proceeds from successful divestitures of a handful of projects are expected to have boosted Canadian Solar’s top line in the fourth quarter. For instance, in November 2019, the company completed the sale of 49% interest in three solar photovoltaic projects — Horus, Tastiota and El Mayo — to Korea Electric Power Corporation and Sprott Korea. In December, Canadian Solar completed the divestment of an operating solar power plant in Izu-shi, Shizuoka Prefecture of Japan to Canadian Solar Infrastructure Fund (CSIF) for $42.1 million.
In the same month, another divestiture of a 3.3 MWp Milborne Port project in the United Kingdom was completed by the company.
Canadian Solar Inc. Price and EPS Surprise
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