As the first quarter of 2014 draws to a close, energy sector financial reports have begun rolling in. Canadian Solar will be posting its full earnings release on May 16, but it has released a preliminary report today.
In shipments and revenue, the company is expecting to beat projections. Canadian Solar's original guidance estimated shipments of between 470-490MW of solar modules, it now says it could go as high as 500 MW. Likewise, revenue was originally expected to be between $415 and $430 million, but the company says it could be as high as $470.
Gross margins are also going to be slightly lower, about one percent, so profit might actually be a bit lower for the quarter. Canadian Solar, however, didn't mention profits in its early announcement on Wednesday, a likely indication of what's to come.
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