About three weeks ago, I passed along a post to you from NotableCalls.com which highlighted the Oppenheimer call for a strong 3rd quarter. Oppenheimer was giving the green light on CSIQ saying to expect a big 3rd quarter. But first things first! How about that 2nd quarter!
The company smashed EPS estimates by swinging to a profit in the quarter of .49/share vs the analyst estimate of a .09/loss. Remind me again why these analysts … Read the rest
Notable Calls is out with a post this morning saying that Oppenheimer is raising their price target on Canadian Solar (CSIQ) following the Intersolar trade show. While cautious on solar overall, they believe CSIQ is positioned well with a low cost structure, allowing the company to price aggressively and take market share. The firm is raising the price target from $14 to $19. They’re also increasing 2009/2010 revenue and EPS estimates to $476/.28 and $655/1.05 … Read the rest
According to this report on TradingMarkets.com, Canadian Solar just announced that it will sell solar cells manufactured at its Chinese plant in Japan starting in the fall of this year. The company has set a goal for itself to sell 12,000kw of solar cells each year in the Japanese market. They plan to achieve this goal through supply contracts with Japanese sales companies like Green Tec. Green Tec will offer Canadian Solar’s solar panels … Read the rest
Canadian Solar (CSIQ) is popping this morning after the company announces 120MW in existing and new sales. 30MW of that comes from Spanish company Systaic which is part of annual supply agreement announced last year, so nothing new here. They don’t get into details in the press release, but they are also announcing it has signed or reconfirming another 90MW of solar modules to be delivered from June to October to 24 customers across Europe, … Read the rest
Canadian Solar just announced that it intends to bump up its yearly production of solar modules from 620 MW to 800 MW. The increase in production is scheduled to be in place by mid-August, and will prepare the company for an expected increase in demand.
To meet the new production goals, Canadian Solar plans to hire 2,000 additional workers on top of its existing staff of 3,000.
In an article from Reuters, Canadian Solar’s … Read the rest
Canadian Solar (CSIQ) is well off the morning lows and now trading up 3% after reporting a better than expected non GAAP loss of .10/share, but on revenues that plunged 71% over the year ago quarter to $49.5 million. The CEO said the company closed the quarter with a strong, liquid balance sheet and is increasing its sales staff. He believes Q2 shipment levels will be significantly higher than Q1, but is cautious due to … Read the rest
Canadian Solar (CSIQ) announced this morning that it signed a new sales agreement with Korean systems integrator, Topinfrasolar which expands their current agreement by 5MW. The contract calls for deliveries of both regular and e-Modules for Korean installations this year, expanding upon the initial 3MW relationship that began earlier this year.
Dr Shawn Qu, Chairman and CEO said: “Topinfrasolar is a leading systems integrator in Korea with an excellent market reputation and particular strength in … Read the rest
China’s government continues to show it is willing to do everything it can to help advance clean energy initiatives. So far, it appears companies are having a far easier time getting help from China’s government than US based solar companies. This morning Canadian Solar (CSIQ) is announcing funding from the Suzhou Municipal Government to support commercial rooftop and BIPV solar projects in the Suzhou New District. The local government is matching the RMB 7.5 million … Read the rest
Canadian Solar (CSIQ) just announced that it will open a new research center in China. The opening of the center will mark the start of a 4 year research program, with the goal of raising solar cell conversion efficiencies and reducing production costs, to help solar power compete with conventional power. The company has arranged research partnerships with Dupont, the University of Toronto and Shanghai Jiao Tong University.
Dr. Shawn Qu, Canadian Solar’s Chairman and … Read the rest
Canadian Solar has just announced that it has signed a 5 MW purchase agreement with Helio Micro Utility. Under the agreement, Helio Micro Utility will purchase 5 MW of solar modules from Canadian Solar’s line of PV solar modules.
In , executives from both company’s commented on the deal:
Dr. Shawn Qu, President and CEO of Canadian Solar, commented, “Canadian Solar is already one of the fastest growing solar manufacturing companies worldwide and this strategic … Read the rest