Canadian Solar (CSIQ) released it’s Q4 earning report Thursday morning. While the earnings did miss expectations, the news wasn’t all bad and the stock started to rally. In early trading, the stock jumped 7.2% and still continues to rally. Today, we’ll take a close look at Canadian Solar’s earnings report, talk a bit about what analysts expected to see, check in to see how the company’s stock price has reacted so far, and discuss what we can expect to see from Canadian Solar (CSIQ) stocks in the near future.
Canadian Solar (CSIQ) Q4 Earnings Missed Expectations, But All Was Not Lost
In the earning report provided by Canadian Solar (CSIQ), investors learned that earnings per share were $1.28, slightly below the $1.34 expectations analysts set fourth. However, the rest of the earning report seemed to be nothing but good news.
Year over year revenue growth was at a staggering 84.1% with total revenue for the quarter reaching $956.15 million. While earnings per share were below analyst targets, overall revenue definitely beat analyst expectations of $953.94 million. Other earning report highlights include…
- Total Solar Module Shipments – 1,125 MW | 897 MW recognized in revenue.
- Gross Margin – 19.3%
- Net Cash Generated From Operating Activities – $259.1 million.
While net earnings were slightly below expectations, overall, the report released by Canadian Solar (CSIQ) wasn’t bad. It showed solid growth in sales with a slight decrease in margin.
How Canadian Solar (CSIQ) Stocks Have Reacted To The News
It’s definitely bull country when it comes to Canadian Solar’s stock market performance on Thursday. After closing the day off at $30.18 per share yesterday, Canadian Solar (CSIQ) stocks went on an immediate uptrend today. By 9:40, the price of a share in the company was up to $32.64. As we see during any trend, we’ve seen peaks and valleys throughout the day, but all in all, Canadian Solar (CSIQ) has kept the uptrend strong. Currently, (2:30) the stock us up nearly 14% trading at $34.38 per share.
Will Canadian Solar (CSIQ) Continue To Rise?
In my opinion, what we’re seeing here is the continuation of a month long uptrend that’s likely to last at least another month. The trend isn’t just seen with Canadian Solar (CSIQ) either. First Solar (FSLR), and SunPower (SPWR) have both produced great earnings and their stocks are on the rise; proving that solar power is building more and more demand. With that said, in my opinion, the momentum of the solar industry as a whole will continue on the uptrend!
What Do You Think?