Canadian Solar Expects Q1 Total Revenue Of $1.2B-$1.4B, Est $1.90B
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar forecasts Q1 total revenue of $1.2B-$1.4B, below the estimated $1.90B. Gross margin is anticipated to be 17%-19%. Module shipments are expected to be 6.1-6.4 GW, including about 235 MW to its own projects. Battery energy storage shipments are projected at 1 GWh.
March 14, 2024 | 10:05 am
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Canadian Solar forecasts lower than expected Q1 revenue of $1.2B-$1.4B vs. an estimated $1.90B, with gross margin between 17%-19% and module shipments of 6.1-6.4 GW.
The lower than expected revenue forecast for Q1 could negatively impact investor sentiment towards Canadian Solar, leading to a potential short-term decrease in its stock price. The anticipated gross margin and module shipments are in line with operational forecasts but may not offset the revenue shortfall's impact.
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