logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Canadian Solar Shares Fall on Soft Outlook, Blames Weather

By  +Follow March 5, 2014 2:45PM
Share:
Tickers Mentioned:

Shares of Canadian Solar (CSIQ) , one of the world’s biggest solar power companies, are trading lower on Wednesday after saying it swung to a profit in the fourth quarter, but provided a bleak outlook for the first quarter. Joining in with other solar firms, such as Trina Solar Ltd. (TSL) , Canadian Solar said severe weather conditions in North America slowed construction at projects, which will translate to lower revenue and gross margin in the first quarter.

For the quarter ended December 31, 2013, the Guelph, Ontario-based company reported net revenue of $519.5 million, up 76.2 percent from $294.8 million in the year prior quarter. On a GAAP basis, Canadian Solar earned $20.95 million, or 39 cents per share, versus a net loss of $104.99 million, or $2.43 per share, in Q4 2012. 

Wall Street was expecting profits of 49 cents per share on revenue of $512.95 million.

Despite coming up short of analyst predictions, it was the second straight quarter of profitability for Canadian Solar. Before shifting into the black in the third quarter last year, the company had posted losses in the nine previous quarters.

Canadian Solar has been shifting into building solar power plants, which brings higher margins than solely competing in the low-margin product space and it’s paying off. For all of 2013, Canadian Solar logged net income of $31.66 million, or 63 cents per share. In 2012, it had lost $195.47 million, or $4.53 per share.

"We are very pleased to have achieved our goal to return the Company to profitability in 2013, underscoring the successful execution of our strategy of expanding our higher margin total solutions business, and seeking profitable growth in our module business, rather than simply competing on MW volume and price,” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, in a statement this morning.

Sales rising in China helped Canadian Solar’s financials. Solar module shipments to the Chinese market were 43 percent of all shipments in the fourth quarter, compared to 9.9 percent in the year prior quarter. Shipments to Japan represented 19.7 percent of total shipments, against 11.7 percent a year earlier.

Shares of CSIQ have been on a tear in the last year, rising a stellar 1,300 percent through Tuesday’s close from 52-week lows last March.

Wall Street was expecting more in the first quarter than what Canadian Solar forecast. The company expects total module shipments between 470 megawatts and 490 megawatts. That’s down from the 621 MW shipped last quarter. The arctic blast that has hit North America and Canada with unseasonably icy and snowy conditions has negatively affected sales and delayed construction at utility-scale projects in Canada, pushing that revenue and profits into the second and third quarter, according to the company. 

For the quarter, Canadian Solar now sees revenue in the range of $415 million to $430 million, down from the $510 million to $520 million previously forecast. The new guidance is well below the $517 million analysts expected.

Total panel shipments are expected to climb to the range of 2.5 GW to 2.7 GW in 2014, compared to 1.9 GW in 2013. Total sales are projected between $2.7 billion and $2.9 billion, from $1.65 billion last year, with about half of those sales derived from its total solutions business.

For the day, investors are focused on the earnings miss and guidance, not the overall growth. Shares are off by 11.2 percent in late afternoon trading at $38.77.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for CSIQ
Sparti
24 Nov 14 03:59:33
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Patrick
24 Nov 14 03:50:24
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Maleah
24 Nov 14 03:16:03
http://t.co/K0pEEt9my3 <-- Last Year this millionaire trader made $163,000 during Thanksgiving week! $CSIQ $ACHN $XONE $LULU
Maleah
24 Nov 14 03:07:05
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $DUST $OLED $PLUG
Extreme Stocks
24 Nov 14 00:42:43
jim50: CSIQ Gapped up +0.06 $CSIQ Last Price 27.57 Day http://t.co/S577rm077p
iHangout
24 Nov 14 00:38:13
jim50: Cheeky's Board!: CSIQ Gapped up +0.06 $CSIQ Last Price 27.57 Day http://t.co/QfsaYluAxr
jim50
24 Nov 14 00:34:50
CSIQ Gapped up +0.06 $CSIQ Last Price 27.57 Day High 28.53 Day Low 27.48 Change +0.19 Volume 3,434,200 Today 5 http://t.co/pfMSGgoBNH
Maleah
23 Nov 14 23:20:34
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $HABT $EYES
Alex
23 Nov 14 23:04:56
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Stock Signaling
23 Nov 14 23:01:18
Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZTS $VSLR #investing
Stockaholics
23 Nov 14 22:03:47
578% Gains On Penny Stocks in one month! Plus a New Pick Is Coming: http://t.co/2W3yKD2d5Q $CSIQ $LLEN $REGN
WindStream
23 Nov 14 19:24:13
$WSTI on the cover & featured in Energy Digital magazine! http://t.co/3WBrtjPPjp $SPWR $SCTY $ASTI $FSLR $SOL $CSIQ $TSL $JASO $VSLR $SWI
Stockaholics
23 Nov 14 18:15:42
578% Gains On Penny Stocks in one month! Plus a New Pick Is Coming: http://t.co/2W3yKD2d5Q $CSIQ $LLEN $REGN
Mark Trader
23 Nov 14 17:37:33
http://t.co/FOdvsRfk32 has 6 pro traders in their chat room. real-time trade alerts, and offer a 14-day trial. $BPL $CJES $BBEP $CSIQ $DAR
RickLejeune
23 Nov 14 16:02:31
Solar Energy Powers Silver Demand To Record High http://t.co/xX41KgeaI7 $SCTY $SUNE $FSLR $SPWR $CSIQ $JASO #Solar #Stocks
natetrades
23 Nov 14 15:54:40
$CSIQ not showing a lot of strength either https://t.co/jRlkQvRh47 via http://t.co/jIQ0tYKJWo
Maleah
23 Nov 14 15:41:25
http://t.co/K0pEEt9my3 <-- Last Year this millionaire trader made $163,000 during Thanksgiving week! $CSIQ $ACHN $XONE $LULU
JFritz
23 Nov 14 14:24:21
"@SKIPDAWG: $CSIQ - currently $27's - last four analyst ratings in November - $36,$36,$46, $48 PT's - hmmm - http://t.co/JAolMnb6Hv"
Brett Spence
23 Nov 14 13:16:56
Charts Of Interest – 23 November 2014 $ARUN $C $CSIQ $HAL $HUN $JNPR http://t.co/rUdWNeP0e1
Maleah
23 Nov 14 13:15:50
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $HABT $EYES
Steve
23 Nov 14 12:45:36
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Christopher
23 Nov 14 12:43:13
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Maleah
23 Nov 14 11:46:29
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $DUST $OLED $PLUG
Antonio Costa
23 Nov 14 11:28:01
$CSIQ Daily short sale volume over the last 30 days http://t.co/1Ns3LJiJub
Stock Signaling
23 Nov 14 11:01:27
Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZTS $VSLR #daytrading
PennyStock Zone
23 Nov 14 10:40:00
http://t.co/nGpJsAI10D <-- Turn $100 into $1000, $10000 or more in 30 days! $JCP $CYBR $FUEL $CSCO $CSIQ $ACHN $XONE $LULU
PennyStock Zone
23 Nov 14 09:15:49
http://t.co/nGpJsAI10D <-- Turn $100 into $1000, $10000 or more in 30 days! $JCP $CYBR $FUEL $CSCO $CSIQ $ACHN $XONE $LULU
Jock Rutherford
23 Nov 14 07:20:03
Globe. "Parting the Clouds on Canadian Solar" http://t.co/tdFdIE9jqZ $csiq
Patrick
23 Nov 14 06:24:28
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Seeking Alpha - All
23 Nov 14 05:44:32
Trina Solar On Deck As Sector Tries To Bounce Back http://t.co/D075bnGm0E $ASTI $CSIQ $DQ $HSOL $JASO $JKS $RGSE $SCTY $SOL $SUNE $TAN
Maleah
23 Nov 14 04:21:14
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $DUST $OLED $PLUG
Maleah
23 Nov 14 04:15:14
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $HABT $EYES
Mark Trader
23 Nov 14 04:00:53
http://t.co/FOdvsRfk32 has 6 pro traders in their chat room. real-time trade alerts, and offer a 14-day trial. $BPL $CJES $BBEP $CSIQ $DAR
Maleah
23 Nov 14 03:55:03
http://t.co/K0pEEt9my3 <-- Last Year this millionaire trader made $163,000 during Thanksgiving week! $CSIQ $ACHN $XONE $LULU
Maleah
23 Nov 14 02:49:12
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $DUST $OLED $PLUG
Denny
23 Nov 14 01:57:25
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
PennyStock Zone
23 Nov 14 01:23:30
http://t.co/nGpJsAI10D <-- Turn $100 into $1000, $10000 or more in 30 days! $JCP $CYBR $FUEL $CSCO $CSIQ $ACHN $XONE $LULU
Andy
23 Nov 14 00:45:35
RT @StockSignaling: Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZT…
Stock Signaling
22 Nov 14 23:01:30
Movers and Shakers: Trading on Major News: $NTAP $VIP $ADT $FOSL $SUSQ $BBT $MTOR $BCS $SEAS $DOW $CSIQ $PLUG $EBAY $ZTS $VSLR #watchlist
lookn4wins
22 Nov 14 22:09:35
CSIQ 27.57 Stock Charts $CSIQ Canadian Solar Inc. (NASDAQ) Any opinions on CSIQ? Please reply to this post. La http://t.co/uDpP2CrW58
Maleah
22 Nov 14 15:33:01
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $HABT $EYES
PennyStock Zone
22 Nov 14 15:31:48
http://t.co/nGpJsAI10D <-- Turn $100 into $1000, $10000 or more in 30 days! $JCP $CYBR $FUEL $CSCO $CSIQ $ACHN $XONE $LULU
Charlotte Christman
22 Nov 14 13:42:31
#Stocks you might want to buy $RF $SIVB $RPAI $CSIQ #wealthmanagement http://t.co/CLobBQxNlT
Frank Tribble
22 Nov 14 13:21:00
Looking for research on $CF $ITW $ARCC $CSIQ #StockMarket http://t.co/zh1Xdy8TPt
Michelle Hedrick
22 Nov 14 12:41:56
This weeks Stocks you should Watch $VAL $DKS $SIRO $CSIQ #NSE http://t.co/Vu8AlqaKXU
Frank Tribble
22 Nov 14 12:36:12
Looking for the next winners like $INTC $SO $ROC $CSIQ Worth a look http://t.co/4EaPLbwwT6
Win Whitman
22 Nov 14 12:05:19
Regretting your investment in $STLD $CFN $SPG $CSIQ #financial http://t.co/yBvOcN05Ay
Otto Max Investments
22 Nov 14 11:49:24
$TAN update: new price range & $40 is next. Names I'm in: $CSIQ, $GPRE. http://t.co/azuzAlodK1
Bonnie Lafleur
22 Nov 14 11:36:32
Looking for the next winners like $UNP $VR $EXPD $CSIQ #Stock http://t.co/aQaJTV4V4l
Maleah
22 Nov 14 11:32:10
Interview with SuperTrades top student Triforcetrader! http://t.co/Hce0Z2DnDs $BABA $UBNT $CSIQ $FSLR $HABT $EYES
				
				
By  +Follow March 5, 2014 2:45PM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.