Canadian Solar Inc. (CSIQ - Free Report) is slated to report first-quarter 2023 results on May 18, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 131.25%. In the trailing four quarters, the company delivered an average earnings surprise of 164.30%.
Factors to Note
Solid module shipment, along with project sales that resulted in notable project monetization, is likely to have boosted Canadian Solar’s first-quarter top-line performance.
Also, solid average selling price for modules might have supported the company’s revenue growth in the same time frame.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $1.67 billion, indicating a 33.6% increase from the year-ago quarter’s level.
A recent increase in shipping volumes due to improving economic activities can be expected to have reduced the company’s shipping cost. This, in turn, might have benefited CSIQ’s bottom-line performance.
However, foreign exchange fluctuation is likely to have some adverse impact on the company’s overall results in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 48 cents per share, indicating a 242.9% improvement from the year-ago quarter’s figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Canadian Solar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: CSIQ’s Earnings ESP is +51.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Canadian Solar currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Solar Releases
First Solar, Inc. (FSLR - Free Report) reported first-quarter 2023 earnings of 40 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 59.6%. However, the bottom line improved significantly from the prior-year quarter’s reported loss of 41 cents per share.
Net sales totaled $548 million, which missed the Zacks Consensus Estimate of $724 million by 23.7%. However, the top line improved 49.4% from the year-ago quarter’s $367 million.
Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2023 adjusted earnings of $1.37 per share, highlighting a solid 73.4% improvement from 79 cents reported in the prior-year quarter. The bottom line also beat the Zacks Consensus Estimate of $1.21 by 13.2%.
Revenues of $726 million beat the Zacks Consensus Estimate of $723 million by 0.4%. The top line soared 64.5% from the prior-year quarter’s reported figure of $441.3 million.
JinkoSolar Holding Co. Ltd. (JKS - Free Report) reported first-quarter 2023 earnings per American Depositary Share of $2.18, which beat the Zacks Consensus Estimate of 37 cents. The company reported earnings per ADS of 10 cents in the year-ago quarter, reflecting a significant year-over-year improvement.
JinkoSolar’s total revenues of $3,396.9 million surpassed the Zacks Consensus Estimate of $3,302 million by 2.9%. The top line also improved 45.8% on a year-over-year basis due to an increase in solar module shipments.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Canadian Solar Inc. (CSIQ - Free Report) is slated to report first-quarter 2023 results on May 18, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 131.25%. In the trailing four quarters, the company delivered an average earnings surprise of 164.30%.
Factors to Note
Solid module shipment, along with project sales that resulted in notable project monetization, is likely to have boosted Canadian Solar’s first-quarter top-line performance.
Also, solid average selling price for modules might have supported the company’s revenue growth in the same time frame.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $1.67 billion, indicating a 33.6% increase from the year-ago quarter’s level.
A recent increase in shipping volumes due to improving economic activities can be expected to have reduced the company’s shipping cost. This, in turn, might have benefited CSIQ’s bottom-line performance.
However, foreign exchange fluctuation is likely to have some adverse impact on the company’s overall results in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 48 cents per share, indicating a 242.9% improvement from the year-ago quarter’s figure.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Canadian Solar this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.
Earnings ESP: CSIQ’s Earnings ESP is +51.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Canadian Solar currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Solar Releases
First Solar, Inc. (FSLR - Free Report) reported first-quarter 2023 earnings of 40 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 59.6%. However, the bottom line improved significantly from the prior-year quarter’s reported loss of 41 cents per share.
Net sales totaled $548 million, which missed the Zacks Consensus Estimate of $724 million by 23.7%. However, the top line improved 49.4% from the year-ago quarter’s $367 million.
Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2023 adjusted earnings of $1.37 per share, highlighting a solid 73.4% improvement from 79 cents reported in the prior-year quarter. The bottom line also beat the Zacks Consensus Estimate of $1.21 by 13.2%.
Revenues of $726 million beat the Zacks Consensus Estimate of $723 million by 0.4%. The top line soared 64.5% from the prior-year quarter’s reported figure of $441.3 million.
JinkoSolar Holding Co. Ltd. (JKS - Free Report) reported first-quarter 2023 earnings per American Depositary Share of $2.18, which beat the Zacks Consensus Estimate of 37 cents. The company reported earnings per ADS of 10 cents in the year-ago quarter, reflecting a significant year-over-year improvement.
JinkoSolar’s total revenues of $3,396.9 million surpassed the Zacks Consensus Estimate of $3,302 million by 2.9%. The top line also improved 45.8% on a year-over-year basis due to an increase in solar module shipments.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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