Canadian Solar Reiterates Prior Outlook For 2024 Total Module Shipments; Sees Total Revenue Of $8.5B-$9.5B, Est $9.57B
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar reiterates its 2024 outlook, expecting total module shipments to align with previous forecasts and projecting total revenue of $8.5B-$9.5B, against an estimate of $9.57B. CEO Shawn Qu highlights a softer first quarter but remains optimistic about profitable growth and increased gross margins through strategic volume management and contributions from e-STORAGE. The company anticipates accelerated growth in the latter part of 2024.
March 14, 2024 | 10:08 am
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Canadian Solar reiterates its 2024 revenue forecast of $8.5B-$9.5B, slightly below the $9.57B estimate. The company expects a softer Q1 but remains optimistic about growth and margin improvements.
The reiteration of Canadian Solar's 2024 outlook, despite a softer first quarter, suggests a stable financial and operational strategy. The expected revenue, slightly below analyst estimates, may not significantly impact the stock price in the short term, as the strategic focus on volume management and e-STORAGE contributions could offset concerns. The company's optimism about the latter part of the year indicates potential for growth, making the short-term impact neutral.
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IMPORTANCE 80
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