Canadian Solar Misses Q2 EPS Expectations, Slashes 2024 Outlook As Market Challenges Mount
Portfolio Pulse from Akanksha Bakshi
Canadian Solar Inc. (NASDAQ:CSIQ) reported disappointing Q2 2024 results, missing EPS expectations and slashing its 2024 outlook. Despite a revenue beat, the company faced a significant year-over-year revenue decline and a drop in gross margin. The company anticipates challenging market conditions but expects stabilization in the second half of the year.
August 22, 2024 | 12:50 pm
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Canadian Solar reported disappointing Q2 results, missing EPS expectations and reducing its 2024 outlook. Despite a revenue beat, the company faced a significant revenue decline and a drop in gross margin. Shares fell 7.62% premarket.
The company's Q2 results missed EPS expectations and showed a significant revenue decline, leading to a negative market reaction with shares dropping 7.62% premarket. The reduced 2024 outlook further adds to the negative sentiment.
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IMPORTANCE 90
RELEVANCE 100