Canadian Solar shares are trading lower after the company reported mixed Q2 financial results and issued Q3 revenue guidance below estimates. Also, the company cut its FY24 revenue guidance with its midpoint below estimates.
Portfolio Pulse from Benzinga Newsdesk
Canadian Solar's shares fell after the company reported mixed Q2 results and issued Q3 revenue guidance below estimates. Additionally, the company lowered its FY24 revenue guidance, with the midpoint below expectations.
August 22, 2024 | 11:56 am
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NEGATIVE IMPACT
Canadian Solar's shares are declining due to mixed Q2 results and lower-than-expected Q3 and FY24 revenue guidance.
The company's Q2 results were mixed, and the guidance for Q3 and FY24 was below estimates, which typically leads to a negative market reaction as it indicates potential challenges in meeting growth expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100