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Canadian Solar lifts revenue expectations from $620 to $815 million

Staff writer ▼ | October 27, 2015
Canadian Solar updated its business outlook for the third quarter of 2015 to reflect higher than expected solar demand in the quarter.
Canadian Solar
Canadian Solar   Q3 total solar module shipments to be 1.18 GW to 1.23 GW
company's expecteations also reflect the sale of 51% of the 200 MW Tranquillity solar power project in California by the company's wholly owned subsidiary, Recurrent Energy, to Southern Power, a subsidiary of Southern company.

For the third quarter of 2015, Canadian Solar now expects its total solar module shipments to be in the range of approximately 1.18 GW to 1.23 GW, compared to its previous guidance, which was in the range of 970 MW to 1.02 GW, including approximately 99 MW of shipments to the company's utility-scale solar projects that will not be recognized as revenue in the third quarter of 2015.

The company now expects its total revenue for the third quarter of 2015 to be in the range of $805 million to $815 million, compared to previous guidance which was in the range of $570 million to $620 million.

Gross margin for the third quarter of 2015 is expected to be at or slightly above the high end of previous guidance, which was in the range of 12% to 14%, primarily reflecting stronger than expected average module selling price partially offset by the Tranquillity project sale, which is expected to be profitable but with lower average gross margin.


 

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