Canadian Solar Inc
Canadian Solar’s Competitive Advantage
Canadian Solar (CSIQ) derives its competitive advantage from its strategic positioning in the downstream market, its broad range of crystalline silicon solar power products, and its technology.
Canadian Solar Beat Analysts’ 3Q17 Revenue Estimates
Canadian Solar’s revenues from the sale of electricity in 3Q17 totaled $9.6 million, which was marginally lower than $9.8 million in 2Q17.
Analyzing JA Solar’s Leverage and Liquidity Position
JA Solar Holdings (JASO) reported $12.1 million as interest expense for 3Q17 compared to $12.4 million in 2Q17 and $11.3 million in 3Q16.
Understanding Canadian Solar’s Business Model
A significant proportion of Canadian Solar’s revenue comes from its top five customers, a structure that’s not uncommon in the industry.
What to Expect From First Solar’s 2Q16 Earnings
First Solar (FSLR) is expected to announce its 2Q16 earnings results on August 4, 2016, after market hours.
What Do Analysts Expect for Yingli Solar’s Margins in 3Q16?
For 3Q16, analysts expect Yingli Solar to report a gross profit of about $31.0 million with a gross margin of about 12.4%, which is in line with the company’s gross margin guidance.
A Closer Look at Trina Solar’s 2Q16 Shipments
Trina Solar (TSL) had given shipment guidance of 1,500 MW (megawatts) to 1,600 MW for 2Q16. However, the company reported 1,658.3 MW of solar (TAN) module shipments recognized in its revenue for 2Q16.
Solar Stocks and ETFs Drop Following EU Decision
The European Union decided to review a minimum import price agreement for Chinese solar panels, pulling the solar stocks down.
Why Canadian Solar’s Shipments Rose during 3Q17
In 4Q17, Canadian Solar expects its solar module shipments to reach ~1.7–1.8 GW.
Where Does Yingli Solar’s Valuation Stand among Peers?
As of December 9, 2016, among its major peers, Yingli Solar had the highest forward EV-to-EBITDA multiple of 14.3x.
JA Solar’s Costs in 3Q17 and How That Affected Its Bottom Line
JA Solar’s total cost of sales for 3Q17 was $575.4 million compared to $778.9 million in 2Q17 and $539.3 million in 3Q16.
First Solar: A key player in the global solar power industry
First Solar was the first solar power company to join the S&P 500 (SPY). We’ll take a look at the company’s operations before moving on to greater details.
Comparing First Solar, SunRun, and SunPower’s Valuations
First Solar (FSLR) stock is trading at a forward EV-to-EBITDA multiple of 4x based on analysts’ earnings estimates for 2019.
Analysts Expect Yingli Solar’s Revenue to Rise in 3Q17
In 3Q16, Yingli Solar (YGE) posted nearly $218.9 million in total revenues. Analysts estimate that it will report ~$242 million in revenues in 3Q17.
Yingli Solar Stock Has a ‘Sell’ Rating before Its 3Q17 Results
Currently, only one analyst is covering Yingli Solar (YGE) stock. The analyst gave the company a “sell” (or 100%) rating.
What to Expect from Yingli Solar’s 3Q17 Earnings
Yingli Solar will announce its 3Q17 earnings results on December 6 before market hours. Since its 2Q17 earnings, its stock price has fallen nearly 13.1%.
How JA Solar Beat Analysts’ 3Q17 Revenue Estimates
In 3Q17, JA Solar reported total revenues of $652.6 million compared to $878.2 million in 2Q17 and $624.3 million in 3Q16.
Why JA Solar Stock Fell after Its 3Q17 Earnings Release
On November 15, 2017, after market hours, JA Solar Holdings (JASO) announced its 3Q17 results for the quarter ended September 30, 2017.
Why Canadian Solar’s Stock Price Fell after Its 3Q17 Results
Canadian Solar (CSIQ) reported its 3Q17 earnings results on November 9. CSIQ declared earnings per share of $0.22, slightly below the analyst consensus estimate of $0.26.
Why SunPower Reported Lower 3Q17 Revenues
SunPower (SPWR) reports its revenue under the power plant, residential, and commercial segments. The latter two segments are together called the distributed generation segments.
SunPower Stock Surges 15% after 3Q17 Earnings Release
SunPower (SPWR) announced its 3Q17 earnings before market hours on November 2. In this series, we’ll examine SunPower’s 3Q17 results in detail and compare the results with analysts’ estimates.
First Solar: A Key Player in the Global Solar Power Industry
First Solar (FSLR) produces solar energy equipment. In this series, we’ll look at its performance and the outlook for the industry.
First Solar: A Guide to Valuation
Relative valuation PE (price-to-earnings) and EV-to-EBITDA multiples are commonly used to determine relative valuation. The forward PE multiple considers a company’s equity based on earnings forecasts for the next 12 months. On September 29, 2017, First Solar’s forward PE multiple was reported to be 21.9x. This PE multiple was higher than JA Solar’s (JASO) 9.1x and Canadian Solar’s […]
First Solar’s Profits Impacted by Heavy Restructuring Charges
Pre-tax loss First Solar’s (FSLR) pretax loss in 2016 was $471.7 million, compared with a profit of $519.8 million in 2015. The loss could be attributed to the huge $729 million restructuring pre-tax charges faced by the company in the fourth quarter of 2016. Net loss in 2016 First Solar reported a net loss of $358.0 […]
Why First Solar’s Gross Margins Contracted in 2016
Cost of sales First Solar’s (FSLR) Components segment saw its cost of sales rise 6% to $1.1 billion in fiscal 2016, from $1.0 billion in fiscal 2015. On the other hand, despite higher volumes, the Systems segment’s cost of sales fell 29% to $1.1 billion in fiscal 2016 from $1.6 billion in fiscal 2015. Overall, the company’s cost […]
Southern and Nextera Energy: First Solar’s Key Customers
High customer concentration In 2016, First Solar (FSLR) sold solar modules to customers in the United States, India, and the United Arab Emirates. Approximately 23% of its total revenue was from third-party module sales. The majority of First Solar’s customer base is in the United States, which makes up to more than 80% of total […]
How Will Restructuring Initiatives Impact SunPower?
SunPower expects to incur about $225 million–$275 million in restructuring charges as part of closing its Philippine-based Fab 2 manufacturing facility.
Why SunPower Stock Rose after the Restructuring Announcement
The market cheered SunPower’s restructuring initiatives. The initiatives are expected to reduce the company’s costs and improve its future margins.
A Look at Trina Solar’s Capacity Expansion and Financial Position
Trina Solar’s interest expenses have consistently been on the rise over the last two years. For 3Q16, they were $28.6 million compared to $26.0 million in 2Q16.
How Did Trina Solar’s Costs Affect Its Gross Margin in 3Q16?
In 3Q16, Trina Solar (TSL) reported a gross profit of $125.6 million compared to $176.3 million in 2Q16. On a YoY basis, the company’s gross profit fell nearly 9.0%.
What to Expect from Canadian Solar’s Future Earnings
Following its 3Q16 results, Canadian Solar revised down its US GAAP revenue guidance for 2016 to $2.8 billion–$2.9 billion.
First Solar Will Focus on Accelerating Its Series 6 Product
On November 16, 2016, First Solar (FSLR) announced an update on its Series 6 product transition and revised its fiscal 2016 guidance.
What’s Canadian Solar’s Leverage and Liquidity Position?
Canadian Solar’s interest expenses fell considerably in 2Q16 to $11.9 million from $16.1 million at the end of 1Q16.
What to Expect from Canadian Solar’s 3Q16 Earnings
Canadian Solar (CSIQ) is set to announce its 3Q16 earnings results on November 21, 2016, before market hours.
Focusing on First Solar’s 3Q Earnings for Signs of Growth
First Solar’s adjusted EBITDA for 3Q15 came in at $466 million. For 3Q16, analysts expect First Solar’s adjusted EBITDA to be around $120 million.
How Does Trina Solar Compare to Its Peers on Valuation?
Among major upstream solar companies, First Solar (FSLR) has the lowest estimated EV-to-EBITDA multiple of 3.9x for 2016. This is followed by Trina Solar’s (TSL) estimated multiple of 6.9x.
What to Expect from Trina Solar’s Future Earnings
Analysts anticipate a decrease in gross profit and gross margin for Trina Solar. For the coming quarter, analysts anticipate that the company will report about $145 million in gross profit, which would be a ~18% decrease on a quarter-over-quarter basis.
SolarCity’s Potential on the Horizon
SolarCity’s stock price gained 412% since December 2012. We’ll see if it can match its increasing market share with increased earnings.
FirstSolar Presents Bullish Guidance for 2H15
FirstSolar (FSLR) expects to generate $3.5 billion to $3.6 billion in revenues in 2015. This implies that its revenues in 2H15 should come in at around $2.2 billion.
SunPower in 2Q15: Liquidity Shrinks on Cash Burn
SunPower reported cash and cash equivalents of $623 million as of June 29, 2015, as opposed to $956.2 as of December 28, 2014.
What Does the Future Hold for SunPower?
In 3Q15, SunPower (SPWR) expects to generate $400 million to $450 million in revenues and net losses of $0.50 to $0.60 per share.
SunPower in 1H15: Why Its Gross Margin Dropped
SunPower (SPWR) reported that its total cost of revenues were $660.2 million, or 80% of revenues, in 1H15. In 1H14, these costs were $943.2 million or 79% of revenues.
Measuring Profitability: Canadian Solar Outshines Peers
To measure Canadian Solar ‘s(CSIQ) operating profitability, we took a look at its earnings before interest, tax, depreciation and amortization, or EBITDA.
Canadian Solar’s Manufacturing Business: Rising Market Share
Canadian Solar (CSIQ) designs its standard modules for residential, commercial, and utility markets. The company offers modules of various power outputs.
Why You Should Consider Canadian Solar
Canadian Solar (CSIQ) is vertically integrated across the solar value chain. It’s a Canada-based firm but most of its manufacturing takes place in China.
SunPower’s Solar Components Business Model: How Does It Work?
SunPower uses solar cells to produce solar panels at its facilities in the Philippines, Mexico, and France. It has a total solar panel capacity of 1.7 GW.