Canadian Solar announced preliminary results for the fourth quarter of 2022 and its business outlook for the first quarter of 2023.
For the fourth quarter of 2022, Canadian Solar expects total module shipments recognized as revenues by CSI Solar to be approximately 6.4 GW, exceeding the guidance range of 6.0 GW to 6.3 GW.
Canadian Solar’s revenues are expected to be approximately $1.97 billion, exceeding the guidance range of $1.8 billion to $1.9 billion. Gross margin is expected to be approximately 17.7 percent, towards the upper end of the guidance range of 16 percent to 18 percent. Net income is expected to be approximately $70 million.
For the first quarter of 2023, Canadian Solar expects total module shipments recognized as revenues by CSI Solar to be in the range of 5.9 GW to 6.2 GW, due to usual seasonality. Canadian Solar’s revenues are expected to be in the range of $1.6 billion to $1.8 billion. Gross margin is expected to be in the range of 18 percent to 20 percent.
For the full year of 2023, Canadian Solar reaffirms total module shipment guidance of 30 GW to 35 GW.