Canadian Solar raises 2Q shipment guidance

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  • CSIQ
    NASDAQ
    28.65
    +0.02 (0.07%)
    3:59PM EDT

Bucking the trend for downward revised shipment guidance for the second quarter, Canadian Solar said that it expects module shipments of approximately 295MW, higher than previous guidance of between 245MW-255MW. The company said that increased demand had led to the revision but would also mean gross margin guidance would be at the lower end of its prior guidance range of 13%-15%. Greater reliance on outside purchased solar cells to meet orders was said to be the reason for the lower expected margins.

Canadian Solar had said in May that 100MW of 2Q module shipments would be recognised as revenue in the Q3 because of contract terms. The company did not provide revenue guidance for 2Q. 

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