Canadian Solar: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Canadian Solar (NASDAQ:CSIQ) reported Q3 earnings with an EPS of $0.32, missing the estimate of $0.82 by 60.98%. Revenue also declined from the same period last year by $85.72 million. In contrast, last quarter, CSIQ beat EPS estimates which resulted in a slight share price increase the following day.
November 14, 2023 | 11:10 am
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Canadian Solar reported a significant miss in Q3 earnings and a decrease in revenue compared to last year, which could negatively impact investor sentiment and the stock price in the short term.
The substantial earnings miss and revenue decline are likely to be viewed negatively by investors, potentially leading to a decrease in stock price. Historical data shows that last quarter's earnings beat resulted in a slight increase in share price, suggesting that earnings reports are a significant driver for CSIQ's stock movements.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100