Canadian Solar Q1 2024 GAAP EPS $0.19 Beats $(0.08) Estimate, Sales $1.342B Beat $1.287B Estimate
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar (NASDAQ:CSIQ) reported Q1 2024 earnings of $0.19 per share, surpassing the $(0.08) estimate, with sales of $1.342B exceeding the $1.287B forecast. This represents a 21.11% decrease in sales from the same period last year.
May 09, 2024 | 10:02 am
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Canadian Solar reported a significant beat on both earnings and sales estimates for Q1 2024, with EPS at $0.19 against an expected $(0.08) and sales of $1.342B against a $1.287B estimate.
Beating both EPS and sales estimates significantly, especially when the market expected a loss, indicates strong operational performance and market confidence. This positive surprise is likely to lead to a short-term uptick in CSIQ's stock price, reflecting investor optimism about the company's profitability and growth prospects despite the year-over-year decrease in sales.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100