Business
Canadian Solar Preannounces Selective Q4 2022 Preliminary Unaudited Results and Q1 2023 Outlook
GUELPH, ON, Feb. 24, 2023 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today preannounced selective preliminary
About this update from Canadian Solar Inc.
[{"type":"text","content":"GUELPH, ON, Feb. 24, 2023 /PRNewswire/ -- Canadian Solar Inc. (the \"Company\" or \"Canadian Solar\") (NASDAQ: CSIQ) today preannounced selective preliminary unaudited results for the fourth quarter of 2022 and its preliminary business outlook for the first quarter of 2023.\nFor the fourth quarter of 2022, Canadian Solar expects total module shipments recognized as revenues by CSI Solar to be approximately 6.4 GW, exceeding the guidance range of 6.0 GW to 6.3 GW. Canadian Solar's total revenues are expected to be approximately $1.97 billion, exceeding the guidance range of $1.8 billion to $1.9 billion. Gross margin is expected to be approximately 17.7%, towards the upper end of the guidance range of 16% to 18%. Net income attributable to Canadian Solar Inc. is expected to be approximately $70 million.\nFor the first quarter of 2023, the Company expects total module shipments recognized as revenues by CSI Solar to be in the range of 5.9 GW to 6.2 GW, due to usual seasonality. Canadian Solar's total revenues are expected to be in the range of $1.6 billion to $1.8 billion. Gross margin is expected to be in the range of 18% to 20%.\nFor the full year of 2023, the Company reaffirms total module shipment guidance of 30 GW to 35 GW. \nEarnings Conference Call DetailsCanadian Solar will announce its full fourth quarter of 2022 and full year of 2022 results on March 21, 2023. The Company will hold a conference call on Tuesday, March 21, 2023, at 8:00 a.m. U.S. Eastern Daylight Time (8:00 p.m., March 21, 2023, in Hong Kong) to discuss the Company's fourth quarter and full year 2022 results and business outlook.\nThe dial-in phone number for the live audio call is +1-877-704-4453 (toll-free from the U.S.), 800-965-561 (toll-free from Hong Kong), 400-120-2840 (local dial-in from Mainland China) or +1-201-389-0920 from international locations. The conference ID is 13736481. A live webcast of the conference call will also be available on the investor relations section of Canadian Solar's website at www.canadiansolar.com.\nA replay of the call will be available 2 hours after the conclusion of the call until 11:00 p.m. U.S. Eastern Daylight Time on Tuesday, April 4, 2023 (11:00 a.m. April 5, 2023, in Hong Kong) and can be accessed by dialing +1-844-512-2921 (toll-free from the U.S.) or +1-412-317-6671 from international locations. The replay pi...