Canadian Solar Inc. (NASDAQ:CSIQ): Scheduled to Announce 1Q14 Earnings Today

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Dallas, Texas 05/16/2014 (FINANCIALSTRENDS) – Canadian Solar Inc.(NASDAQ:CSIQ) is set to release its 1Q14 earnings result today before the opening bell. The company management will hold a conference call at 08:00 a.m. EDT to discuss the results and business outlook. As far analysts’ expectations are concerned, they anticipate Canadian Solar to post 1Q14 earnings of $0.12 per share, far better than loss of $0.10 per share posted during 1Q13. Sales are expected to rise nearly 64% on a year over year basis and revenue is estimated to be above $430 million as compared to revenue of $236.6 million reported during 1Q13.

Selective Preliminary Results

Canadian Solar Inc.(NASDAQ:CSIQ), last week announced its selective preliminary results for 1Q14 whereby the company anticipated its revenue to remain around $460 million to $470 million range which is significantly up from its previous guidance of $415 million to $430 million range. However, the company cut down its top line gross margin guidance for 1Q14 from its previous guidance of 14% – 16% range to 14% – 15% range.

The company also raised its sales expectations from its previous guidance where it anticipated solar module shipments to be in the range of 470 MW – 490 MW, to the range of about 490 MW to 500 MW during 1Q14.

Company Brief:

Canadian Solar Inc.(NASDAQ:CSIQ), one of the largest solar power company worldwide, offers vertically integrated solar modules, solar power plants and specialized solar products. The company operates in North and South America, the Middle East, Asia, Europe, Africa and Australia. The company reaches to customers in over 70 countries and has so far delivered over 6GW of solar modules.

Stock Update:

On Thursday, Canadian Solar Company’s stock closed at $25.32, losing closed to 6% from its previous close of $26.93. The stock has delivered nearly 33% negative returns over past three month period.