Canadian Solar Ups Q2 Guidance; Stock Soars
Canadian Solar (CSIQ) shares are sharply higher this morning after the company said second-quarter results blew past previous guidance. The company now says Q2 revenue was $210 million to $214 million, above its previous forecast range of $185 million to $190 million. Gross profit is expected to hit $33 to $35 million. The company shipped 47 megawatts of solar module products in the quarter.