Canadian Solar Inc (NASDAQ:CSIQ) today came up with some preliminary fourth-quarter figures showing that solar module shipments and revenues beat its guidance.
Total module shipments recognised as revenues by its CSI Solar business in the final quarter of 2022 are expected to be 6.4 GW, above its guidance of between 6 GW and 6.3 GW.
Canadian Solar’s total revenues in the quarter will likely come in at USD 1.97 billion (EUR 1.86bn), above the projected range of USD 1.8 billion to USD 1.9 billion.
At 17.7%, the gross margin is expected towards the upper end of the 16%-18% guidance. The company anticipates a fourth-quarter attributable net profit of USD 70 million. In the third quarter, it made a net profit of USD 78 million.
For the first quarter of 2023, Canadian Solar guided for total module shipments recognised as revenues by CSI Solar of 5.9 GW to 6.2 GW, reflecting seasonality. Revenues in the period are seen in the range of USD 1.6 billion to USD 1.8 billion and the gross margin is projected to be between 18% and 20%.
It also confirmed its 2023 total module shipment forecast of 30 GW to 35 GW.
The solar module manufacturer, which also provides energy storage and develops utility-scale solar, will report fourth-quarter results on March 21.
(USD 1 = EUR 0.942)
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