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Canadian Solar (CSIQ) to Report Q4 Earnings: What's in Store?
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Canadian Solar Inc. (CSIQ - Free Report) is slated to report fourth-quarter and full-year 2022 results on Mar 21, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 93.10%. In the trailing four quarters, the company delivered an average earnings surprise of 117.68%.
Factors to Note
Higher-than-expected module shipment, as stated in Canadian Solar’s recently announced selective fourth-quarter preliminary results, is expected to have boosted its top line in the fourth quarter. Increased project monetization, buoyed by improving economic activities and growing demand for solar installations, particularly in the United States in the recent months, might have benefited its revenues.
Also, solid average selling price (ASP) for modules might have supported the company’s revenue growth in the same time frame.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $1.97 billion, indicating a 28.8% increase from the year-ago quarter’s tally.
An increased contribution from the expanded upstream ingot, wafer and cell capacity, along with a higher degree of vertical integration and greater control over its costs and supply chain, is expected to have brought down the company’s manufacturing cost. This, together with improving logistic costs, is likely to have boosted Canadian Solar’s fourth-quarter bottom line. However, higher input cost might have served as a headwind.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 48 cents per share, indicating a 182.4% improvement from the year-ago quarter’s reported 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 +102.76%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here is a stock from the same industry, with the right combination of elements, to post an earnings beat this season:
Array Technologies (ARRY - Free Report) has an Earnings ESP of +12.11% and a Zacks Rank #3. The Zacks Consensus Estimate for fourth-quarter sales is pegged at $363.3 million.
ARRY delivered an earnings surprise of 50.00% in the last reported quarter. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 9 cents per share.
Recent Solar Releases
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.51 per share, indicating a solid 106.8% improvement from 73 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of $1.27 by 18.9%.
Enphase Energy’s fourth-quarter revenues of $724.7 million beat the Zacks Consensus Estimate of $704 million by 2.9%. The top line soared 75.6% from the year-ago quarter’s $412.7 million, driven by strong demand for its Enphase Energy Systems.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported fourth-quarter adjusted earnings of $2.86 per share, which surpassed the Zacks Consensus Estimate of $1.60 by 78.8%. The bottom line increased 160% from the prior-year quarter’s $1.10.
SolarEdge’s fourth-quarter revenues of $890.7 million surpassed the Zacks Consensus Estimate of $875 million by 1.8%. The top line surged 61.4% from the year-ago quarter’s $551.9 million.
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Canadian Solar (CSIQ) to Report Q4 Earnings: What's in Store?
Canadian Solar Inc. (CSIQ - Free Report) is slated to report fourth-quarter and full-year 2022 results on Mar 21, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 93.10%. In the trailing four quarters, the company delivered an average earnings surprise of 117.68%.
Factors to Note
Higher-than-expected module shipment, as stated in Canadian Solar’s recently announced selective fourth-quarter preliminary results, is expected to have boosted its top line in the fourth quarter. Increased project monetization, buoyed by improving economic activities and growing demand for solar installations, particularly in the United States in the recent months, might have benefited its revenues.
Canadian Solar Inc. Price and EPS Surprise
Canadian Solar Inc. price-eps-surprise | Canadian Solar Inc. Quote
Also, solid average selling price (ASP) for modules might have supported the company’s revenue growth in the same time frame.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $1.97 billion, indicating a 28.8% increase from the year-ago quarter’s tally.
An increased contribution from the expanded upstream ingot, wafer and cell capacity, along with a higher degree of vertical integration and greater control over its costs and supply chain, is expected to have brought down the company’s manufacturing cost. This, together with improving logistic costs, is likely to have boosted Canadian Solar’s fourth-quarter bottom line. However, higher input cost might have served as a headwind.
The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 48 cents per share, indicating a 182.4% improvement from the year-ago quarter’s reported 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 +102.76%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Canadian Solar carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Another Stock to Consider
Here is a stock from the same industry, with the right combination of elements, to post an earnings beat this season:
Array Technologies (ARRY - Free Report) has an Earnings ESP of +12.11% and a Zacks Rank #3. The Zacks Consensus Estimate for fourth-quarter sales is pegged at $363.3 million.
ARRY delivered an earnings surprise of 50.00% in the last reported quarter. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 9 cents per share.
Recent Solar Releases
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.51 per share, indicating a solid 106.8% improvement from 73 cents in the prior-year quarter. The bottom line also surpassed the Zacks Consensus Estimate of $1.27 by 18.9%.
Enphase Energy’s fourth-quarter revenues of $724.7 million beat the Zacks Consensus Estimate of $704 million by 2.9%. The top line soared 75.6% from the year-ago quarter’s $412.7 million, driven by strong demand for its Enphase Energy Systems.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported fourth-quarter adjusted earnings of $2.86 per share, which surpassed the Zacks Consensus Estimate of $1.60 by 78.8%. The bottom line increased 160% from the prior-year quarter’s $1.10.
SolarEdge’s fourth-quarter revenues of $890.7 million surpassed the Zacks Consensus Estimate of $875 million by 1.8%. The top line surged 61.4% from the year-ago quarter’s $551.9 million.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.