Plus   Neg

Canadian Solar Guides FY20 Revenues Below Estimates - Quick Facts

While reporting financial results for the fourth quarter and fiscal 2019 on Thursday, Canadian Solar Inc. (CSIQ) initiated revenue and module shipments outlook for the full-year 2020 and provided guidance also for the first quarter of fiscal 2020.

For the first quarter, the company expects total revenue in a range of $780 million to $810 million and total module shipments in a range of 2.15 GW to 2.25 GW.

For fiscal 2020, the company now projects total revenue in a range of $3.4 billion to $3.9 billion and total module shipments in a range of 10 GW to 12 GW.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $888.06 million for the quarter and $4.02 billion for the year.

This outlook is subject to uncertainty with respect to, among other things, final customer demand and project construction and sale schedules, and in particular the impact of coronavirus (COVID-19).

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apotex Corp. recalled all lots of type 2 diabetes medication Metformin hydrochloride in the form of oral film-coated tablets for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Groupe Renault plans to cut about 14,600 jobs across the world and lower its production capacity. The plan includes almost 4,600 jobs reduction in France, through voluntary retirement and retraining. Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network.
Follow RTT