Canadian Solar guides for Q3 profit, up to 20% gross margin

Nov 4, 2013 - Canadian Solar Inc (NASDAQ:CSIQ) today boosted its gross margin guidance for the third quarter of 2013 to 18%-20% and said it expected to report a GAAP profit.

The company is to release its financial report for the three and nine months through September on November 13. It sees net profits for both periods.

Previously, the solar module maker and project developer expected a July-September gross margin of 10% to 12%. It explained that the upward revision was the result of the successful execution of the firm’s total solutions business plan, the wrap up of several solar park disposals included.

Canadian Solar sees revenues of between USD 470 million (EUR 348m) and USD 495 million for the third quarter. It lifted its module shipment forecast to 460 MW-480 MW from the earlier 410 MW-430 MW.

In a market report from last week, NPD Solarbuzz said that Yingli Green Energy Holding Co Ltd (NYSE:YGE), Trina Solar Ltd (NYSE:TSL), Canadian Solar, First Solar Inc (NASDAQ:FSLR), JinkoSolar Holding Co Ltd (NYSE:JKS) and ReneSola Ltd (NYSE:SOL) will all book record PV shipments in the third quarter.

(USD 1 = EUR 0.740)

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