Canadian Solar Inc. (NASDAQ:CSIQ) changed 1.52% to recent value of $20.72. The stock transacted 293179 shares during most recent day however it has an average volume of 694.74K shares. It spotted trading -19.97% off 52-week high price. On the other end, the stock has been noted 68.46% away from the low price over the last 52-weeks.
On Aug.15, 2019, Canadian Solar Inc. (NASDAQ:CSIQ) one of the world’s largest solar power companies, disclosed financial results for the second quarter ended June 30, 2019.
Second Quarter 2019 Highlights
- Total solar module shipments were 2,143 MW, compared to 1,575 MW in the first quarter of 2019 and second quarter 2019 guidance of 1.95 GW to 2.05 GW.
- Net revenue was $1,036.3 million, compared to $484.7 million in the first quarter of 2019 and second quarter 2019 guidance of $970 million to $1.01 billion.
- Gross margin was 17.6%, including the benefit of an anti-dumping (AD) and countervailing duty (CVD) true-up of $21.6 million, or 15.5% without taking into account the true-up benefit which represents the non-GAAP gross margin, compared to 22.2% in the first quarter of 2019 and second quarter 2019 guidance of 13% to 15%.
- Net income attributable to Canadian Solar on a GAAP basis was $62.7 million, or $1.04 per diluted share, compared to net loss of $17.2 million, or $0.29 per diluted share, in the first quarter of 2019.
- Net income attributable to Canadian Solar on a non-GAAP basis was $46.4 million, or $0.77 per diluted share. Non-GAAP net income excludes an AD and CVD true-up of $21.6 million, net of income tax effect. For a reconciliation of results under generally accepted accounting principles in the United States (GAAP) to non-GAAP results, see the accompanying table About Non-GAAP Financial Measures.
- Net cash provided by operating activities was approximately $225.8 million, compared to $104.9 million in the first quarter of 2019.
- As of July 31, 2019, the Company’s portfolio of utility-scale solar power plants in operation was 795.8 MWp with an estimated total resale value of approximately $1.0 billion.
CSIQ has a gross margin of 26.30% and an operating margin of 10.40% while its profit margin remained 6.30% for the last 12 months. Its earnings per share (EPS) expected to touch remained 129.20% for this year.
The company has 58.62M of outstanding shares and 45.37M shares were floated in the market. According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -2.04% from the mean of 20 days, 0.73% from mean of 50 days SMA and performed 10.02% from mean of 200 days price. Company’s performance for the week was -0.72%, -5.82% for month and YTD performance remained 44.49%.
James Blair has more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. James is the Senior Editor of Financial category. He also holds an MBA from Penn State University He has two daughter and two children.
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