Canadian Solar (CSIQ) Hit 10% After Lowering Margins Guidance

Posted by Tate Dwinnell | # |
09:13:24 am on February 19, 2010

Canadian Solar (CSIQ) is out this morning updating its outlook for the 4th quarter and traders aren’t liking the outlook for a lower gross margin due to higher processing costs, defective production equipment and clearing of old inventory.  On the bright side, the company does expect shipments to be slightly higher than previous estimates of 128 – 138MW.  Canadian Solar will report earnings on March 3rd.

Shares are down about 10% in premarket trading, but up 20% in the past week.

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