Canadian Solar Cuts FY24 Total Revenue Outlook From $7.3B - $8.3B To $6.5B - $7.5B, Est $7.565B
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar has revised its FY24 revenue outlook downwards from $7.3B-$8.3B to $6.5B-$7.5B, with estimated revenue at $7.565B. The company also provided guidance on module and battery energy storage shipments.
August 22, 2024 | 10:08 am
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NEGATIVE IMPACT
Canadian Solar has reduced its FY24 revenue guidance, which may negatively impact investor sentiment and the stock price in the short term.
The downward revision of revenue guidance suggests potential challenges in achieving previous targets, which could lead to negative investor sentiment and a decrease in stock price. The guidance on shipments provides some operational insight but does not offset the negative impact of the revenue cut.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100