Canadian Solar Q1 Profit Soars, Sees Q2 Revenues Below View - Quick Facts

(RTTNews) - Canadian Solar, Inc. (CSIQ) reported that first-quarter net income to company soared to $61.33 million or $1.04 per share from $3.78 million or $0.07 per share in the prior-year quarter.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter surged to $860.89 million from $466.32 million in the same quarter last year. Analysts expected revenue of $735.12 million for the quarter.

Total solar module shipments were 1.23 GW, with 1.03 GW recognized in revenue, compared to 897 MW in the fourth quarter of 2014.

Looking ahead to the second quarter, the company expects total revenue in a range of $570 million to $620 million, and total module shipments in the range of about 950 MW to 1.0 GW. Analysts expect the company to report revenues of $675.94 million for the quarter.