Canadian Solar Q2 2024 GAAP EPS $0.02 Misses $0.11 Estimate, Sales $1.64B Beat $1.59B Estimate
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar reported Q2 2024 earnings per share of $0.02, missing the $0.11 estimate, but sales of $1.64 billion beat the $1.59 billion estimate. This represents a significant decrease in both earnings and sales compared to the same period last year.
August 22, 2024 | 10:03 am
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Canadian Solar's Q2 2024 earnings per share of $0.02 missed the $0.11 estimate, showing a significant decline from last year's $2.39. However, sales of $1.64 billion beat the $1.59 billion estimate, despite being lower than last year's $2.36 billion.
The significant miss on EPS compared to estimates and the drastic year-over-year decline in both EPS and sales are likely to negatively impact CSIQ's stock price in the short term. The sales beat may provide some cushion, but the overall negative earnings performance is more impactful.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100