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Canadian Solar (CSIQ) to Post Q4 Earnings: What's in Store?
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Canadian Solar Inc. (CSIQ - Free Report) is set to report fourth-quarter 2021 results on Mar 17, before market open.
In the last reported quarter, the company delivered an earnings surprise of 133.33%. In the trailing four quarters, the company came up with an earnings surprise of 109.99%, on average.
Factors at Play
With the increasing demand for solar projects, Canadian Solar continues to benefit from project monetization. Keeping up with this trend, in the fourth quarter, the company completed the sale of Jaíba V Project, located in Brazil’s Minas Gerais, with a generation capacity of 635 megawatt-peak (MWp), to VTRM. Revenues recognized from such sales must have contributed favorably to the company’s top line in the soon-to-be-reported quarter.
With gradual economic recovery, the company has been witnessing an increase in average selling price (ASP) for modules. This must have boosted the Q4 top line backed by strong module shipment volumes.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $1.55 billion, suggesting an improvement of 48.5% from the figure reported in the year-ago quarter.
Continued module price appreciation is expected to have boosted the company’s gross margin in the fourth quarter, which in turn must have bolstered its quarterly earnings. Also, an anti-dumping and countervailing duty reversal benefit is projected to have contributed favorably to Canadian Solar’s bottom-line performance in the soon-to-be-reported quarter.
Moreover, the company is also making efforts to mitigate expenses, particularly to tackle the increasing transportation costs. This is also likely to have aided Q4 earnings.
The Zacks Consensus Estimate for earnings per share stands at 38 cents, implying a huge improvement of 245.5% from the figure reported in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict 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 odds of an earnings surprise. But that’s not the case here, as you will see below.
Earnings ESP: Canadian Solar has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Enphase Energy (ENPH - Free Report) reported fourth-quarter 2021 adjusted earnings of 73 cents per share, which surpassed the Zacks Consensus Estimate of 57 cents by 28.1%. The bottom line improved 43.1% from 51 cents per share reported in the prior-year quarter.
Enphase Energy’s fourth-quarter revenues of $412.7 million beat the Zacks Consensus Estimate of $403 million by 2.4%. ENPH’s top line soared 55.8% from the year-ago quarter’s $264.8 million, driven by strong demand for its microinverter systems.
SunPower (SPWR - Free Report) reported fourth-quarter 2021 loss of 7 cents per share, in contrast to the Zacks Consensus Estimate of earnings of 4 cents. The bottom line significantly declined from earnings of 14 cents per share reported in the prior-year quarter.
SunPower’s total revenues for the quarter came in at $384.2 million, which declined 13.8% from the prior-year quarter. SPWR’s top line also beat the Zacks Consensus Estimate of $379.1 million by 1.3%.
Sunrun (RUN - Free Report) reported fourth-quarter 2021 earnings of 10 cents per share, in line with the Zacks Consensus Estimate. The bottom line significantly improved from a loss of 6 cents per share reported in the prior-year quarter.
Sunrun’s total revenues for the quarter came in at $435.2 million, which increased 35.8% from the prior-year quarter. RUN’s top line also surpassed the Zacks Consensus Estimate by 11%.
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Canadian Solar (CSIQ) to Post Q4 Earnings: What's in Store?
Canadian Solar Inc. (CSIQ - Free Report) is set to report fourth-quarter 2021 results on Mar 17, before market open.
In the last reported quarter, the company delivered an earnings surprise of 133.33%. In the trailing four quarters, the company came up with an earnings surprise of 109.99%, on average.
Factors at Play
With the increasing demand for solar projects, Canadian Solar continues to benefit from project monetization. Keeping up with this trend, in the fourth quarter, the company completed the sale of Jaíba V Project, located in Brazil’s Minas Gerais, with a generation capacity of 635 megawatt-peak (MWp), to VTRM. Revenues recognized from such sales must have contributed favorably to the company’s top line in the soon-to-be-reported quarter.
With gradual economic recovery, the company has been witnessing an increase in average selling price (ASP) for modules. This must have boosted the Q4 top line backed by strong module shipment volumes.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $1.55 billion, suggesting an improvement of 48.5% from the figure reported in the year-ago quarter.
Canadian Solar Inc. Price and EPS Surprise
Canadian Solar Inc. price-eps-surprise | Canadian Solar Inc. Quote
Continued module price appreciation is expected to have boosted the company’s gross margin in the fourth quarter, which in turn must have bolstered its quarterly earnings. Also, an anti-dumping and countervailing duty reversal benefit is projected to have contributed favorably to Canadian Solar’s bottom-line performance in the soon-to-be-reported quarter.
Moreover, the company is also making efforts to mitigate expenses, particularly to tackle the increasing transportation costs. This is also likely to have aided Q4 earnings.
The Zacks Consensus Estimate for earnings per share stands at 38 cents, implying a huge improvement of 245.5% from the figure reported in the year-ago quarter.
Earnings Whispers
Our proven model does not conclusively predict 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 odds of an earnings surprise. But that’s not the case here, as you will see below.
Earnings ESP: Canadian Solar has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank of 3. You can see the complete list of today's Zacks #1 Rank stocks here.
Recent Solar Releases
Enphase Energy (ENPH - Free Report) reported fourth-quarter 2021 adjusted earnings of 73 cents per share, which surpassed the Zacks Consensus Estimate of 57 cents by 28.1%. The bottom line improved 43.1% from 51 cents per share reported in the prior-year quarter.
Enphase Energy’s fourth-quarter revenues of $412.7 million beat the Zacks Consensus Estimate of $403 million by 2.4%. ENPH’s top line soared 55.8% from the year-ago quarter’s $264.8 million, driven by strong demand for its microinverter systems.
SunPower (SPWR - Free Report) reported fourth-quarter 2021 loss of 7 cents per share, in contrast to the Zacks Consensus Estimate of earnings of 4 cents. The bottom line significantly declined from earnings of 14 cents per share reported in the prior-year quarter.
SunPower’s total revenues for the quarter came in at $384.2 million, which declined 13.8% from the prior-year quarter. SPWR’s top line also beat the Zacks Consensus Estimate of $379.1 million by 1.3%.
Sunrun (RUN - Free Report) reported fourth-quarter 2021 earnings of 10 cents per share, in line with the Zacks Consensus Estimate. The bottom line significantly improved from a loss of 6 cents per share reported in the prior-year quarter.
Sunrun’s total revenues for the quarter came in at $435.2 million, which increased 35.8% from the prior-year quarter. RUN’s top line also surpassed the Zacks Consensus Estimate by 11%.