Boston, MA 03/05/2014 (wallstreetpr) – Canadian Solar Inc. (NASDAQ:CSIQ) which is one of the world’s largest solar companies is expected to post its full year and fourth quarter earnings on Wednesday March 5, 2014. The company specializes in making solar modules as well as specialized solar products and solar power plants for its global customer base distributed in over 70 countries.
Wall Street estimates
Wall Street have projected earnings per share of 52 cents for the mega solar company although the company reported a net loss of $1.71 per share same quarter a year ago. Last year was a turnaround for the company as it excelled in its key operating sectors thus in line to report profits as well as good net income levels.
Canadian Solar Inc. (NASDAQ:CSIQ) performed well in two of the quarters of 2013 surpassing Wall Street expectation although results of its other two quarters fell short of Wall Street estimates. The positive turnaround has caused the consensus estimate to go up by 9 cents in the past three months alone; this clearly suggests bullish earnings for the fourth quarter.
Wall Street expect the company to report total revenues for the quarter of $535.8 million a surge of 81.8% compared to the same quarter a year ago earnings of $294.8 million. Sales for the quarter should also come in between $510 million and $520 million.
Canadian Solar Inc. (NASDAQ:CSIQ) for the full year is expected to report earnings per share of 87 cents on total revenue of $1.66 billion against a loss of $3.80 share on revenues of $1.29 billion reported in F2012. Fourth quarter profitability will be subject to a ruling by the Suzhou intermediate court on a contract dispute with LDK.
Canadian Solar Inc. (NASDAQ:CSIQ) was already bullish in Tuesday trading session even before the big announcement on its result. The Company’s stock was up by 8.31% closing the day at highs of $43.67
