Boston, MA 08/14/2014 (wallstreetpr) – After reporting record shipments and earnings, Canadian Solar Inc. (NASDAQ:CSIQ), the #3 best-performing solar manufacturer increased the most in a span of past two years. The shares of company climbed 24% and touched $31.03 on August 14, 2014, which is the biggest gain ever since December 2011. In the previous year, it increased 163% on the Bloomberg Intelligence Global Large Solar Index.
Q2 2014 Financial Results
The net income of company in the second quarter of the present fiscal increased to $55.8 million or Earnings Per Share of 95 cents apiece. This visibly beat the compiled analysts estimate of Bloomberg of 58-cent per share. As far as the shipments were concerned, it hit 646 megawatts, an increase from the company’s May outlook of 630 megawatts.
Strong Demand in China, Japan and the U.S. Pushed Shipments
Canadian Solar Inc. (NASDAQ:CSIQ) extracted benefits from the positive demand in the U.S., Japan, China and Ontario. Also, it is swelling the power-plant business, which generates higher margin and also contributed around 1/3rd revenue in Q2 2014. This is an increase of 27% from the previous quarter.
The Third Quarter Outlook
The Chief Executive Officer of Canadian Solar Inc. (NASDAQ:CSIQ), Shawn Qu in a conference call with the analysts, said that in the third quarter of the present year, the company is looking forward to module shipments valued at somewhere between 720 megawatts and 750 megawatts.
Full Year Guidance Remains Intact
As far as the full year guidance was concerned, the company predicted that the shipment would range between 2.5 gigawatts and 2.7 gigawatts. The revenue of Canadian Solar Inc. (NASDAQ:CSIQ) for the present fiscal year has been speculated somewhere between $2.7 billion and $2.9 billion. The full-year guidance of the company was announced in May 2014 and it still remains intact in the backdrop of strong net income and shipments.
