Canadian Solar Cuts FY23 Revenue Guidance Post Mixed Q2 Performance
Portfolio Pulse from Anusuya Lahiri
Canadian Solar Inc (NASDAQ:CSIQ) reported a 2% YoY revenue growth for Q2 FY23, missing consensus estimates. The company's Q2 revenue grew by 39% sequentially due to higher solar module shipment volume and project sales, partially offset by a decline in module average selling price. The company cut its FY23 revenue guidance to $8.5 billion - $9.0 billion from the previous $9.0 billion - $9.5 billion. Despite the reduced guidance, CSIQ shares traded higher by 0.78% in the premarket session.
August 22, 2023 | 12:53 pm
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Canadian Solar's Q2 revenue missed estimates and the company cut its FY23 revenue guidance. Despite this, the stock traded higher in the premarket session.
Canadian Solar's Q2 revenue missed estimates and the company cut its FY23 revenue guidance, which could be seen as negative news. However, the stock traded higher in the premarket session, indicating that investors may have already priced in the news or are focusing on other aspects of the company's performance.
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