What's In Store For Canadian Solar (CSIQ) In Q3 Earnings?
Zacks Investment Research | Nov 06, 2019 10:28PM ET
Canadian Solar Inc. (NASDAQ:CSIQ) is expected to report third-quarter 2019 results on Nov 12, before market open.
In the last reported quarter, the company delivered a massive positive earnings surprise of 234.78%. The bottom line also outpaced the Zacks Consensus Estimate in three of the trailing four quarters, the average beat being 115.66%.
Let's see how things have shaped up prior to this announcement.
Factors at Play
Higher volume of solar module sales is expected to have been a major growth driver of Canadian Solar’s third-quarter revenues. As the company’s fundamental business remains strong owing to healthy demand and stable average selling price (ASP), we expect the upcoming quarterly results to reflect strong solar module shipments.
Moreover, during the quarter, Canadian Solar completed the sale of a 266 megawatt-peak solar project to Duke Energy (NYSE:DUK) Renewables. The company is likely to have completed the sale of its Brazilian projects. The company’s third-quarter results are likely to reflect proceeds from such project divestitures.
For third-quarter revenues, the Zacks Consensus Estimate is pegged at $797.9 million, suggesting a solid improvement of 3.9% from the figure reported in the year-ago quarter.
Canadian Solar Inc. Price and EPS Surprise
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