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Canadian Solar (CSIQ) to Report Q2 Earnings: What's in Store?
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Canadian Solar Inc. (CSIQ - Free Report) is slated to report second-quarter 2023 results on Aug 22, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 147.92%. The company delivered a trailing four-quarter average earnings surprise of 106.28%.
Factors to Note
Solid module shipment driven by pent-up demand from customers across nearly all channels and regions is likely to have boosted Canadian Solar’s second-quarter top-line performance.
Notable project sales that result in significant project monetization, particularly in the United States, can also be expected to have contributed favorably to CSIQ’s revenues in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for revenues is pegged at $2.50 billion, indicating an 8.1% increase from the year-ago quarter’s level.
Declining input costs, owing to lowering polysilicon prices, along with reducing processing costs for the company are likely to have bolstered its second-quarter earnings. Declining shipping costs and stable logistics costs, a trend witnessed in recent times, might have also aided CSIQ’s bottom-line performance.
However, foreign exchange fluctuation and lower average selling price for solar module might have had some adverse impact on the company’s overall earnings in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.52 per share, indicating a 42.1% improvement from the year-ago quarter’s figure.
What the Zacks Model Unveils
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 chances of an earnings beat, which is not the case here.
Earnings ESP: CSIQ’s Earnings ESP is 0.00%. 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 second-quarter 2023 earnings of $1.59 per share, which improved 205.8% from the prior-year quarter’s level of 52 cents. The Zacks Consensus Estimate for second-quarter earnings was pegged at 95 cents.
First Solar’s second-quarter net sales were $810.7 million, which beat the Zacks Consensus Estimate of $720 million by 12.6%. The top line also improved 30.6% from the year-ago quarter’s level of $620.9 million.
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2023 adjusted earnings of $1.47 per share, indicating a 37.4% improvement from $1.07 reported in the prior-year quarter. The bottom line also beat the Zacks Consensus Estimate of $1.27 by 15.8%.
Enphase Energy’s second-quarter revenues of $711.1 million missed the Zacks Consensus Estimate of $727 million by 2.2%. However, the top line rose 34.1% from the prior-year quarter’s reported figure of $530.2 million.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported adjusted earnings of $2.62 per share, which surpassed the Zacks Consensus Estimate of $2.55 by 2.8%. The bottom line also improved 175.8% from the prior-year quarter’s level of 95 cents.
The company’s quarterly revenues of $991.3 million outpaced the Zacks Consensus Estimate of $989 million by 0.2%. The top line also rose 36% from the year-ago quarter’s reported number of $727.8 million.
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Canadian Solar (CSIQ) to Report Q2 Earnings: What's in Store?
Canadian Solar Inc. (CSIQ - Free Report) is slated to report second-quarter 2023 results on Aug 22, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 147.92%. The company delivered a trailing four-quarter average earnings surprise of 106.28%.
Factors to Note
Solid module shipment driven by pent-up demand from customers across nearly all channels and regions is likely to have boosted Canadian Solar’s second-quarter top-line performance.
Canadian Solar Inc. Price and EPS Surprise
Canadian Solar Inc. price-eps-surprise | Canadian Solar Inc. Quote
Notable project sales that result in significant project monetization, particularly in the United States, can also be expected to have contributed favorably to CSIQ’s revenues in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for revenues is pegged at $2.50 billion, indicating an 8.1% increase from the year-ago quarter’s level.
Declining input costs, owing to lowering polysilicon prices, along with reducing processing costs for the company are likely to have bolstered its second-quarter earnings. Declining shipping costs and stable logistics costs, a trend witnessed in recent times, might have also aided CSIQ’s bottom-line performance.
However, foreign exchange fluctuation and lower average selling price for solar module might have had some adverse impact on the company’s overall earnings in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $1.52 per share, indicating a 42.1% improvement from the year-ago quarter’s figure.
What the Zacks Model Unveils
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 chances of an earnings beat, which is not the case here.
Earnings ESP: CSIQ’s Earnings ESP is 0.00%. 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 #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Solar Releases
First Solar, Inc. (FSLR - Free Report) reported second-quarter 2023 earnings of $1.59 per share, which improved 205.8% from the prior-year quarter’s level of 52 cents. The Zacks Consensus Estimate for second-quarter earnings was pegged at 95 cents.
First Solar’s second-quarter net sales were $810.7 million, which beat the Zacks Consensus Estimate of $720 million by 12.6%. The top line also improved 30.6% from the year-ago quarter’s level of $620.9 million.
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2023 adjusted earnings of $1.47 per share, indicating a 37.4% improvement from $1.07 reported in the prior-year quarter. The bottom line also beat the Zacks Consensus Estimate of $1.27 by 15.8%.
Enphase Energy’s second-quarter revenues of $711.1 million missed the Zacks Consensus Estimate of $727 million by 2.2%. However, the top line rose 34.1% from the prior-year quarter’s reported figure of $530.2 million.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported adjusted earnings of $2.62 per share, which surpassed the Zacks Consensus Estimate of $2.55 by 2.8%. The bottom line also improved 175.8% from the prior-year quarter’s level of 95 cents.
The company’s quarterly revenues of $991.3 million outpaced the Zacks Consensus Estimate of $989 million by 0.2%. The top line also rose 36% from the year-ago quarter’s reported number of $727.8 million.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.