The Canadian Solar solar company has improved the forecast
Positive financial expectations were the driver of the quotations of the solar company’s shares Canadian Solar Inc. (CSIQ) by 15.19%, to $45.19 at the auction on August 18. In the report for the second quarter, Canadian Solar showed strong positive dynamics. Revenue grew by 62% year-on-year to $2.31 billion. The gross margin exceeded expectations and reached 16%. Net profit was $74 million, or $1.07 per share. The amount of debt has not changed since the end of March 2022 and amounts to $2.7 billion.
The demand for solar energy from Canadian Solar remains high. The portfolio of orders for solar panels reached 26 GW, for batteries — 31 GW * h. At the same time, the company’s management expects to maintain positive dynamics against the background of stimulating renewable energy in the United States. End of 2022, the company raised its revenue forecast to $7.5—8 billion, which means an increase of 47% year-on-year in the middle of the range. Canadian Solar’s long-term plans assume project sales growth of an average of 50% per year until 2026. Canadian Solar’s strong point is a comprehensive offer in the field of solar energy.
The company manufactures solar panels, supplies batteries, installation kits, inverters, and engineering and installation services for power plants and energy storage facilities. Thus, Canadian Solar is one of the primary beneficiaries of the growing demand to construct large solar power plants and turnkey autonomous power supply systems. At the same time, Canadian Solar often receives long-term agreements for the maintenance of power systems and subsequent modernization, for example, an increase in the capacity of electricity storage. Another advantage of Canadian Solar is geographical diversification and experience in constructing extensive Solar generating facilities on six continents.
