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Canadian Solar -5.5% after guiding Q3 revenues below consensus

Published 08/14/2017, 10:30 AM
© Reuters.  Canadian Solar -5.5% after guiding Q3 revenues below consensus
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  • Canadian Solar (CSIQ -5.5%) plunges in early trading after reporting a slightly smaller than expected Q2 loss but guiding Q3 revenues sharply below analyst expectations.
  • CSIQ forecasts Q3 revenues of $805M-$825M vs. $1.04B analyst consensus estimate, with gross margin at 15%-17%; CSIQ reiterates its view for FY 2017 total module shipments at 6.0-6.5 GW.
  • For Q2, total solar module shipments were 1,745 MW, compared to 1,480 MW in Q1 and the company's Q2 guidance of 1,530-1,580 MW; Q2 gross margin was 15.9%, excluding benefits of two AD/CVD reversals, vs. 13.5% in Q1 and Q2 guidance of 13%-15%.
  • Now read: First Solar (NASDAQ:FSLR) And JinkoSolar: Same Industry But Watch Out For The Differences


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