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Canadian Solar Q4 net loss $13.3 million

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Staff Writer | March 21, 2017
Canadian Solar
Canadian Solar   Net revenue in Q4 was $668.4 million

Canadian Solar said it expects total revenue for the first quarter of 2017 to be in the range of $570 million to $590 million.

Gross margin for the first quarter is expected to be between 13% and 15%. The company expects total solar module shipments to be in the range of approximately 1.15 GW to 1.2 GW.

For the full year 2017, the company expects total revenue to be in the range of $4.0 billion to $4.2 billion.

The company expects full-year total module shipments to be in the range of approximately 6.5 GW to 7.0 GW, with approximately 6.17 GW recognized in revenue.

The company expects to connect approximately 1 GW to 1.2GW of new solar projects globally in 2017.

These projects are located in the U.S., Japan, China, UK, India, Brazil and Africa.

In its fourth quarter, net loss attributable to Canadian Solar was $13.3 million or $0.23 per share, compared to net income of $62.3 million, or $1.05 per share last year.

Adjusted net income attributable to Canadian Solar was $14.2 million or $0.24 per share.

Net revenue in the fourth quarter of 2016 was $668.4 million, down 40.3% from $1.12 billion in 2015.

Total solar module shipments in the fourth quarter of 2016 were 1,612 MW, of which 1,581 MW were recognized in revenue, compared to 1,398 MW recognized in revenue in the fourth quarter of 2015.


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