Canadian Solar, Inc. (CSIQ) Posts Q1 Loss
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Canadian Solar, Inc. (NASDAQ: CSIQ) reported Q1 EPS of ($0.10), $0.68 better than the analyst estimate of ($0.78). Revenue for the quarter came in at $263.6 million versus the consensus estimate of $221 million.
Solar module shipments were 340 MW, compared to 404 MW in the fourth quarter of 2012.
For the second quarter of 2013, module shipments are expected to be in the range of approximately 380 MW to 420 MW. Gross margin for the quarter is expected to be between 9% and 11%.
For the full year 2013, the Company expects module shipments to be in the range of approximately 1.6 GW to 1.8 GW."
CSIQ is up 17 % for today.
Labels: Canadian Solar Inc., CSIQ, Earnings, Solar Stocks, Solar Technology, solarstocks
Canadian Solar Updates 1Q10 Performance
The maker of technology to be used in solar panels has revealed that the SEC has begun an investigation surrounding certain sales transactions in 2009, which may have continuing legal effects moving forward.
CSIQ is down -16% for the day.
Canadian Solar Inc. (the "Company," "we" or "Canadian Solar") (Nasdaq: CSIQ), one of the world's largest solar companies, today updated its 1Q 2010 performance and guidance for 2Q 2010 and the second half of 2010. The Company has postponed the release of its full financial results for the first quarter ended March 31, 2010 and its quarterly conference call, scheduled for June 2, as a result of the commencement of an investigation by the Audit Committee of the Company's Board of Directors. While the investigation is ongoing, the Company is updating preliminary first quarter operating results.
...
-- We have implemented a more robust foreign currency hedging plan,
raising our hedging level to more than 90% of our expected Q2 cash flow.
We are now hedging well into Q3.
-- We are on track to expand our internal cell capacity from the current
420MW to 700MW.
-- We intend to commence ramping up our new cell lines on July 1st and
complete the ramping up process in September;
-- We have successfully revamped our ingot and wafer plant and expect it
to contribute positively to our P&L in 2Q10;
-- We will take advantage of our global market profile and increase sales
in non-Euro currencies.
Operations Update
-- Conversion Efficiency: We began commercial manufacturing of enhanced
selective emitter ("ESE") modules in March 2010. We have shipped over
3.0 MW of ESE modules to date. Conversion efficiencies have approached
18% in initial production runs. We expect to increase our ESE cell
production capacity to 120 MW by the end of the third quarter.
-- Module Capacity: We increased our module production capacity from 820
MW at the end of 2009 to 1.3 GW at the end of May 2010.
-- Cell Capacity: We currently have 420 MW of internal solar cell
production capacity. We expect to reach 700 MW of internal solar cell
production capacity by September 2010.
-- Ingot and Wafer Capacity: Our internal ingot and wafer operation
stopped incurring losses in 1Q10. The furnaces have been repaired and
the plant is expected to contribute to our margins in 2Q10. We expect
to produce approximately 30 MW to 35 MW of wafers internally in 2Q10.
-- Ratio of Internal Cell Production: In 1Q10 we manufactured
approximately 50% of the cells we used in the quarter internally. In
2Q10 we expect to produce approximately 110 MW of cells internally
representing approximately 60% of our 2Q10 shipments. By 4Q10 we
expect to produce approximately 165 MW of cells internally,
representing approximately 70% of our expected 4Q10 shipments.
SourceLabels: Canadian Solar Inc., CSIQ, Solar Stocks
Earnings Release Dates
Expected next earnings release:
First Solar, Inc. (FSLR)
2/24/2010 - After Market
Q4 2009
Canadian Solar Inc. (CSIQ)
Mar 3, 2010
Q4 2009 Earnings Conference Call - 8:00AM E
Suntech Power Holdings Co., Ltd. (STP)
Mar 4, 2010
Q4 2009 Suntech Power Holdings Earnings Conference Call - 8:00AM EST
Labels: Canadian Solar Inc., CSIQ, Earnings, First Solar Inc, FSLR, Solar Stocks, STP, Suntech Power
Suntech solar panels sold out in early 2010
Supply seems not enough to fill all Suntech's Solar Panels demand,
and prices always rise on those conditions:
- Fully booked on panels through second quarter
- Company sees panel prices stable in Q1
- Expects panel prices to fall in second half of year
Suntech Power Holdings Co Ltd's (STP.N) solar panel is sold out through at least the second quarter of 2010, a company executive said on Tuesday.
"We were basically in a sold-out situation in Q4 and we're in a sold-out situation at least through Q2," Steve Chadima, vice president of external affairs at Suntech, said at a conference hosted by Needham and Co in New York.
"We're basically selling anything we can produce and I know we're not alone," Chadima said.
Demand for solar power products has rebounded after a difficult 2009, when the global credit crisis dried up financing for new projects and panel prices plummeted.
Chinese players such as Suntech, Trina Solar Ltd (TSL.N) and Canadian Solar Inc (CSIQ.O) have seized on rising demand, turning their low-cost structures into sales, and several plan to boost production capacity in 2010.
Labels: Canadian Solar Inc., China, CSIQ, STP, Suntech Power, Trina Solar, TSL
Bullish Solar before Earnings
This week we're going to get some Solar Stock results with Canadian Solar (CSIQ) releasing earnings on the 17th November, Suntech Power (STP) and Trina Solar (TSL) on 19 November.
All of these solar stocks have already a strong bullish run in these last days. The Earnings data could have a big effect, positive or negative, on the whole solar sector so be warned.
Suntech Power Holdings Co., Ltd. chart:
This stock gapped up today, but seems "stuck" in the 50 day moving average for now. Expect some resistance around this price, but remember that the earnings release can change the whole technical aspect of this solar stock.
Labels: Canadian Solar Inc., Earnings, Solar Stocks, STP, Suntech Power, Trina Solar, TSL
Solar Stock ETF
Solar Stock ETF TAN seems to be gaining strength, now at the bottom of the trend channel and already gaining some ground.
If the solar sector starts a new short-term rally, this stock might be the best choice if you want to remove the risk of investing in a single solar stock.
Just remember that next week we're going to see more solar stock results with Canadian Solar (CSIQ) releasing earnings on the 17th November, and Suntech Power (STP) on 19 November.
Labels: Canadian Solar Inc., CSIQ, solar ETF, Solar Stocks, STP, Suntech Power, TAN
Solar Stocks Gapping Up
Some solar stocks gapping more than 1% for today's opening:
CSIQ 2.5%
FSLR 2.0%
STP 2.0%
Commodity prices are up and the solar sector follows.
Crude Oil and Polysilicon prices can go up until the end of this year, and pulling the whole solars along.
The chart looks overbought in the short-term but the Bulls keep pushing up:
Labels: Canadian Solar Inc., CSIQ, First Solar Inc, FSLR, solar charts, solar ETF, Solar Stocks, STP, Suntech Power, TAN
Solar Stocks ETF
Solar Stocks ETF TAN (Claymore/MAC Global Solar Index) seems to be pointing for a downswing in the short term. The markets seem to be strong enough to stop the bears from making a big move downward, but this 'Solar Index' keeps pointing down.
Today's Opening could continue de down movement, with the US Futures in the red, a couple of hours before the opening.
The TAN Chart look's like this:
Meanwhile Canadian Solar Inc. (CSIQ) released it's earnings schedule:
Canadian Solar Schedules 2Q09 Results Conference Call Canadian Solar Inc. (Nasdaq: CSIQ) today announced that it will hold a conference call to discuss the Company's financial results for the second quarter ended June 30, 2009 and business outlook.
The dial-in number for the live audio call, which will begin on Thursday, August 6, 2009 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. August 6, 2009 in Hong Kong), is +1-617-847-8712. The conference call passcode is 63818298. A live webcast of the conference call will also be available on Canadian Solar's website at http://www.canadian-solar.com .
A replay of the call will be available approximately one hour after the conclusion of the live call through 12:00 p.m. on August 13, 2009, U.S. Eastern Time (12:00 a.m., August 14, 2009 in Hong Kong) by telephone at +1-617-801-6888. To access the replay, use passcode 52551852. A webcast replay will also be available at http://www.canadian-solar.com .
Labels: Canadian Solar Inc., Charts, CSIQ, Earnings, solar charts, solar ETF, Solar News, Solar Stocks, TAN
TAN Solar Stock ETF Taking a break
After the rally of these last days, solar stocks remain in neutral ground, some gaining, some loosing, taking a break from the latest rallys.
Canadian Solar Inc. (CSIQ) is the top performer this week thanks to the rising estimates for the company's results.
Solar Stocks ETF TAN seems to be taking a little break from the latest Bullish run, still not enough to reverse the downtrend since June.
TAN still needs to show a lot more strength if the trend is to be reversed.
Labels: Canadian Solar Inc., CSIQ, solar ETF, Solar Stocks, TAN
Solar Stocks getting Bullish
Solar Stocks are getting Bullish on the short term again.
With the recent good earnings from Intel, the Market seems to be ready for an upswing for the next week.
First Solar, Solar Stocks getting Bullish and the TAN Solar Stock ETF seem to be picking up.
Short Term Traders should start buying at these prices, but don't forget the stops!
First Solar, Inc. (FSLR)
Claymore/MAC Global Solar Energy (TAN)
More updates later today...
Labels: Canadian Solar Inc., Claymore, CSIQ, First Solar Inc, FSLR, Global Solar Energy, Global Solar Index, MAC, solar charts, solar ETF, Solar Stocks, TAN
Oil drops, Solar Stocks Follow
With Crude Oil on its 3rd consecutive day drop, Solar Stocks keep following the Commodity, losing from -5% to -10% on most Solar Stocks.
Some examples for today:
Energy Conversion Devices, Inc. (ENER) -8%
First Solar, Inc. (FSLR) -5%
Suntech Power Holdings Co., Ltd. (STP) -9%
Canadian Solar Inc. (CSIQ) -10%
The Solar Stock ETF of reference, Claymore/MAC Global Solar Index , is down almost 7%
Keep away from Solar Stocks for a couple of days, we might get some opportunities by the end of the week. If your Short, keep those profits running.
Labels: Bearish, Canadian Solar Inc., CSIQ, ENER, First Solar Inc, FSLR, solar ETF, Solar Stocks, STP, Suntech Power, TAN
Solar Stocks Gapping on Pre-Market
Most Solar Stocks are gapping up today on the Pre-Market.
Except the possible start of an upswing short-term rally, with the ETF TAN up 2% on Pre-Market, and other titles such as STP and CSIQ going up almost 3%, 30 minutes before market open.
The Claymore/MAC Global Solar Index (Solar Stock ETF) Chart looks like this:
And some news, regarding the Solar Industry and Oil price correlation:
Solar Players Looking Again Like Leveraged Oil Trades (FSLR, STP, SPWRA, LDK, ENER, TAN, PBW, CSIQ)Investing in solar and alternative energy stocks comes with many risks. We have often referred to many of these companies as being essentially nothing more than very leveraged speculative oil investments because when energy prices are low most forms of alternative energy are not competitive on a cost structure. The drop of $2.62 per barrel to $66.93 in NYMEX WTI Crude is causing havoc in some of the mid-cap and speculative oils stocks. It is also hitting shares of First Solar, Inc. (NASDAQ: FSLR), Suntech Power Holdings Co. Ltd. (NYSE: STP), SunPower Corporation (NASDAQ: SPWRA), LDK Solar Co.Ltd. (NYSE: LDK), and Energy Conversion Devices, Inc. (NASDAQ: ENER). This is also seen directly in the ETFs of Claymore/MAC Global Solar Energy (NYSE: TAN) and PowerShares WilderHill Clean Energy (NYSE: PBW). Speculative stocks like Canadian Solar Inc. (NASDAQ: CSIQ) look even worse.
Labels: Canadian Solar Inc., Claymore, Crude Oil, CSIQ, FSLR, LDK, PBW, solar ETF, Solar Stocks, Solar Stocks Performance, SPWRA, STP, Suntech Power, TAN
Canadian Solar Earnings (CSIQ)
The first quarter report from Canadian Solar Inc. (NASDAQ:CSIQ) was a little better than expected on the earnings front but weak on the top-line, posting a net EPS loss of -$0.13 on revenue of $49.5 million. Analysts had forecast a net EPS loss of -$0.26 on revenue of $54.08 million.
The good news was the promise of a future short-term recovery, with sales recovering from it's low recession numbers, in the last months.
Canadian Solar (CSIQ) is up 23% for today, chart looks like this:
(doubled the price just in the last month)
Other Solar Stocks like SOLF, YGE, TSL and SOL are all above 10%
Labels: Canadian Solar Inc., CSIQ, ReneSola, Solarfun, SOLF, Trina Solar, YGE, Yingli Green Energy Hold
Barclays's take on solarstocks
Barclays Bullish on YGE and JASO, Says Take Profits on CSIQ and SOLFBy Chip Brian, SmarTrend Analytics Team
At the Intersolar trade show in Munich, Germany, Barclays Capital said key themes included the resumption of seasonality in demand, depletion of channel inventory, and that global solar shipments are tracking to the firm's 25% year-over-year decline forecast with potential upside from improved project financing programs. Barclays maintains its selective bias toward the Chinese solar companies it currently rates "Overweight" - Yingli Green Energy (NYSE:YGE) and JA Solar (NASDAQ:JASO). The firm recommends staying on the sidelines on China Sunergy (NASDAQ:CSUN), LDK Solar (NYSE:LDK) and Renesola (NYSE:SOL). Barclays suggested taking profits on Canadian Solar (NASDAQ:CSIQ) and Solarfun Power (NASDAQ:SOLF). Barclays also noted that First Solar's (NASDAQ:FSLR) analyst day on June 24 is a potential catalyst.
SourceLabels: Canadian Solar Inc., China Sunenergy, CSIQ, CSUN, First Solar Inc, FSLR, JA Solar Holdings Co., JASO, LDK, ReneSola, SOL, Solar Stocks, Solarfun, solarstocks, SOLF, YGE
Sunshine in Solar Stocks
Oil prices and solar stocks price correlation seems to be main excuse for the recent rally in solar stocks.
The truth is that the whole market has been rallying, so pick your reason for the recent solar rally...
Seen in
247wallst.com :
Suntech Power Holdings Co., Ltd. (NYSE:STP) closed its follow-on offering of 23 million ADSs on May 28th. The price per ADS was $12.50, and the company raised net proceeds of about $277 million.
Suntech shares hit a high of more than $16/ADS yesterday before closing at $15.44, nearly $3 more than the follow-on offering price. And virtually all solar stocks have risen nicely in the past week. Canadian Solar Inc. (NASDAQ:CSIQ) and Yingli Green Energy Holding Company Ltd. (NYSE:YGE) are up nearly 20%, and Suntech and Energy Conversion Devices Inc. (NASDAQ:ENER) are up more than 5%.
Why the run-up in price since May 22nd? After all, Suntech earned just $0.01/ADS in the first quarter on revenue of $315.7 million, and estimates for the current quarter are for EPS of $0.01 on $360.5 million in revenues. The others certainly weren’t much more impressive. All the solar players just managed to clear very low expectations. So what’s up?
The answer lies in the rise in oil prices. Crude prices have risen above $64/barrel, US Oil Fund ETF (NYSE:USO) is up more than 5%, and solar stocks are following along for the ride. The sentiment seems to be that demand for oil will translate into demand for energy from all sources.
The solarstocks ETF: Claymore/MAC Global Solar Index is having some difficulty passing the $10 mark, but today should be a good candidate for a breakout in this ETF's price:
Biggest mover today is Canadian Solar Inc. (CSIQ) up 9%
Labels: Canadian Solar Inc., Claymore, CSIQ, ETF, Global Solar Index, MAC, solar ETF, solarstocks, sunshine, TAN
Zacks Industry Outlook Highlights: Clean Energy Fuels, SunPower, Verasun Energy, Canadian Solar and First Solar
CHICAGO--(BUSINESS WIRE)--Zacks.com announces the latest Industry Outlook. Today’s outlook from Zacks Equity Research analyst Jon Kolb discusses the Alternative Energy sector. Highlighted stocks include: Clean Energy Fuels Corp. (Nasdaq: CLNE), SunPower (Nasdaq: SPWRA), Verasun Energy (NYSE: VSE), Canadian Solar (Nasdaq: CSIQ) and First Solar (Nasdaq: FSLR).
Here is the latest on the Alt-Energy sector:
In President Obama's Inaugural Address on January 20, 2009, T. Boone Pickens, Texas oilman, Chairman and CEO of BP Capital and Director of Clean Energy Fuels Corp. (Nasdaq: CLNE), along with millions of Americans, heard our new President Obama pledge to transform U.S. energy policy. Mr. Pickens is committed to this goal and believes that the president's goals are bold yet achievable.
Read the full article
hereLabels: Canadian Solar Inc., CLNE, CSIQ, First Solar Inc, FSLR, SPWR, SunPower Corp, VSE
Canadian Solar Inc. Earnings
Canadian Solar Inc. (Nasdaq: CSIQ) today reported its preliminary
unaudited US GAAP financial information for the second quarter ended June
30, 2008.
Net revenues for the quarter were $212.6 million (including $5.1
million of silicon material sales), compared to net revenues of $60.4
million for the second quarter of 2007 (including $2.7 million of silicon
material sales) and $171.2 million for the first quarter of 2008 (including
$2.2 million of silicon material sales). Net income for the quarter was
$10.5 million, or $0.36 per diluted share, compared to a net loss of $2.9
million, or $0.11 per diluted share, for the second quarter of 2007 and net
income of $19.0 million, or $0.61 per diluted share, for the first quarter
of 2008. Excluding share- based compensation expenses of $2.3 million and a
one-time non-cash debt conversion charge of $10.2 million, non-GAAP net
income for the quarter is $23.0 million, or $0.78 per diluted share.
Yesterday CSIQ shares closed higher before the earnings release, but today this stock is loosing 6% after the earnings, but still above yesterdays up move.
More charts and news soon.
Labels: Canadian Solar Inc., CSIQ, Earnings
Canadian Solar Inc. up 30.7% in 3 days
Canadian Solar Inc. raised it's revenue forecast, to a range of $750 million to $870 million, from its previous view of $650-$750 million.
By far the top performer, expect some resistance and probably a little correction, now that it's in new historical highs.
The increased revenue forecast largely reflects recent sales of solar modules to Pro Solar Solarstrom GmbH and Iliotec Solar GmbH of Germany. To meet the greater demand, the company's board authorized an unspecified increase in capital spending to boost capacity.
Shares of Canadian Solar rise on improved outlookLabels: Canadian Solar Inc., CSIQ, Earnings
