Canadian Solar Q3 Profit Soars; Lifts FY14 Revenue Outlook - Quick Facts

(RTTNews) - Canadian Solar Inc. (CSIQ) reported that its net income attributable to the company for the third quarter of 2014 was $104.2 million or $1.75 per share, compared to $27.7 million, or $0.56 per share, in the comparable quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the latest third quarter was $914.38 million, up 86.3.0% from $490.90 million in the prior year period, while six analysts expected revenue of $803.24 million for the quarter.

Looking ahead to the fourth quarter, the company expects total revenue to be in the range of $925 million to $975 million. Wall Street expects revenues of $977.43 million for the fourth-quarter.

For full year 2014, the company is increasing its revenue to the range of approximately $2.9 billion to $3.0 billion, compared to its previous range of $2.7 billion to $2.9 billion. Analysts now expect full year 2014 revenue of $2.83 billion.