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BUZZ-Canadian Solar falls on downbeat Q3 revenue forecast

Reuters
Aug 21
BUZZ-Canadian Solar falls on downbeat Q3 revenue forecast

** Shares of solar and battery company Canadian Solar CSIQ.O fall 8.2% to $11.70 premarket

** Co forecasts lower-than-expected Q3 revenue, amid uncertainty regarding customer demand, project construction, supply chain constraints, and geopolitical conflicts

** CSIQ expects Q3 revenue in the range of $1.3 bln to $1.5 bln, missing analysts' estimate of $1.6 bln - data compiled by LSEG

** Co reports surprise Q2 adjusted loss of 53 cents/share vs est profit of $1.61/share

** Co posts Q2 revenue $1.7 bln vs est of $1.95 bln

** "Revenue fell short due to delays in shipment and certain project sales, but gross margin outperformed on strong North America module shipments and storage volumes," - CEO

** As of last close, CSIQ up 14.7% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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