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Canadian Solar Inc. (NASDAQ:CSIQ) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 3.49%.
Canadian Solar Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-1.01 in the quarter versus EPS of $-1.39 in the year-earlier quarter.
Revenue: Decreased 37.81% to $294.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Canadian Solar Inc. reported adjusted EPS loss of $1.01 per share. By that measure, the company missed the mean analyst estimate of $-0.95. It missed the average revenue estimate of $318.53 million.
Quoting Management: Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar, remarked: “Clearly, our strategic decision to focus on the downstream total solution business several years ago has proven to be the right one. This is highlighted by our success at building scale in this business in low risk countries such as Canada, Japan and the U.S. Our total solutions business capability and project pipeline, supported by our low cost manufacturing capability, position us well for the next phase of growth in the solar power industry. Our focus for 2013 is on returning to profitability on a full year basis.”
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