Canadian Solar expects better revenue than previous guidance

Canadian Solar Ontario project

Canadian Solar announced it expects its shipments will be 1.90 GW to 1.95 GW in Q4 2018, compared to the previous guidance of 1.67 GW to 1.72 GW.

Revenue of Canadian Solar will be $850 million to $900 million in Q4 2018 against the previous guidance of $690 million to $800 million.

Its gross margin will be 27 percent to 28 percent in Q4 compared to the previous guidance of 24 percent to 26 percent.

Canadian Solar will announce the financial results on March 21.
Canadian Solar, which supplies to the ailing Pacific Gas and Electric Company (PG&E), said it does not have material exposure with respect to previously sold projects.

Canadian Solar has exposure with respect to 60 MWac of power purchase agreements with PG&E for a portion of the Gaskell West 2 project, which is planned to reach commercial operation in 2020.

Canadian Solar also has exposure with respect to interconnection agreements with PG&E including an early to mid-stage development project and the late-stage Slate project, which together total approximately 700 MWac.