Canadian Solar set for record PV module shipments in Q4 2018

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Canadian Solar's module shipments in Q3 2018 had been 1.59GW.

‘Solar Module Super League’ (SMSL) member Canadian Solar has surprised with an upwardly revised PV module shipment forecast for the fourth quarter of 2018. 

The SMSL said that it expected module shipments to be in the range of 1.90GW to 1.95GW, compared to the previous guidance of 1.67GW to 1.72GW.

Canadian Solar set a personal quarterly module shipment record in the third quarter of 2017, when shipments topped 1.87GW. The revised guidance indicates that the SMSL is heading for a new quarterly shipment record. 

As a result, Canadian Solar also revised its revenue forecast for the fourth quarter to be in the range of US$850 million to US$900 million, compared to the previous guidance of US$690 million to US$800 million.
The SMSL hit record revenue of US$1.42 billion in the first quarter of 2018. 

Higher shipments and utilisation rates may be a contributing factor behind revised gross margin for the fourth quarter of 2018, which was said to be in the range of 27% to 28% compared to the previous guidance of 24% to 26%.  Gross margin in the third quarter of 2018 was 26.1%.

The SMSL has also been benefiting from very low wafer prices in the second half of 2018, supporting module margin improvements, despite ASP declines. 

The company did not disclose why module shipments were significantly higher than previously guided.

Read Next

May 6, 2021
Independent power producer has Opdenergy has postponed an initial public offering (IPO) just days before its shares were due to start trading on the Spanish stock exchanges.
May 4, 2021
Spanish renewables developer and independent power producer (IPP) Grupo Ecoener has seen its shares slide on its market debut today.
April 28, 2021
Renewable energy group BayWa r.e. has opened what it claims is its largest PV warehouse in Europe yet in a bid to expand its distribution network in the continent.
April 28, 2021
FTC Solar has downgraded the pricing of its initial public offering (IPO) and will list at a price of US$13 per share, rather than initial target range of US$18 – 20.
Sponsored
April 27, 2021
Canadian Solar provides a detailed analysis of the technologies that are combining within its new HiKu7 and BiHiKu7 series of modules, driving power outputs beyond 600W.
PV Tech Premium
April 26, 2021
LONGi’s ascent to the top of the solar module shipments league table captured headlines last week, but it also cements the view that consolidation in the sector is inevitable, with an oligarchy of majors dominating market share. Carrie Xiao assesses the prospects of those top five companies as 2021 heats up.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021