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Canadian Solar (CSIQ) to Report Q1 Earnings: What's in Store?
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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.
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.
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Canadian Solar (CSIQ) to Report Q1 Earnings: What's in Store?
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.
Canadian Solar Inc. Price and EPS Surprise
Canadian Solar Inc. price-eps-surprise | Canadian Solar Inc. Quote
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.