Categories Earnings, Energy

Canadian Solar (CSIQ) Q4 2019 Earnings Snapshot

— Canadian Solar (NASDAQ: CSIQ) reported Q4 2019 earnings of $1.04 per share vs. $0.45 expected.

— Revenue rose 2% to $920 million vs. $865.46 million expected.

Canadian Solar (CSIQ) Q4 2019 Earnings Infograph

— GAAP net income attributable to Canadian Solar was $67.7 million, or $1.12 per share, compared to net income of $111.6 million, or $1.81 per share, in the fourth quarter of 2018.

— Total solar module shipments were 2,474 MW.

— Canadian Solar expects 1Q20 revenue to be $780 million to $810 million. Total module shipments pegged to be in the range of 2.15 GW to 2.25 GW.

— FY20 revenue is estimated to be $3.4 billion to $3.9 billion. Total module shipments are targeted to be in the range of 10 GW to 12 GW.

— The company plans to continue with its stock repurchase program as recent COVID-19-related panic-selling brought its equity valuation below book value.

— CSIQ stock, which hit a 52-week high ($25.35) on February 19, 2020, more than halved and plunged to a new yearly low ($12.00) last week.

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