Canadian Solar: 1Q Earnings Snapshot
GUELPH, Ontario (AP) _ Canadian Solar Inc. (CSIQ) on Thursday reported a first-quarter loss of $17.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Guelph, Ontario-based company said it had a loss of 29 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 44 cents per share.
The solar wafers manufacturer posted revenue of $484.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $470.8 million.
Canadian Solar shares have increased 23% since the beginning of the year. The stock has climbed slightly more than 4% in the last 12 months.