Canadian Solar's Q2 profit dropped to $3.82M, missing revenue forecasts and causing a 9% pre-market share drop.
Canadian Solar Inc.'s Q2 profit dropped to $3.82M, well below the previous year's $169.97M, and missed revenue forecasts, causing a 9% pre-market share drop to $13.25. The decline was attributed to lower module ASPs and decreased project sales, while Q3 revenue is expected to be between $1.6B and $1.8B with a 14-16% gross margin. The company also revised its fiscal 2024 revenue forecast from $7.3B to $8.3B to between $6.5B and $7.5B.
August 22, 2024
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