Canadian Solar (CSIQ) Reports Q3 Loss, Misses Revenue Estimates

Core Insights - Canadian Solar reported a quarterly loss of $0.31 per share, which was better than the Zacks Consensus Estimate of a loss of $0.44, representing an earnings surprise of 29.55% [1] - The company posted revenues of $1.51 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 10.69% and down from $1.85 billion year-over-year [2] - The stock has underperformed significantly, losing about 54% since the beginning of the year compared to the S&P 500's gain of 27.6% [4] Earnings Performance - Over the last four quarters, Canadian Solar has surpassed consensus EPS estimates four times [2] - The company had a favorable estimate revisions trend ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [7] Future Outlook - Current consensus EPS estimate for the upcoming quarter is $0.34 on revenues of $2.22 billion, and $0.41 on revenues of $6.9 billion for the current fiscal year [8] - The outlook for the solar industry is positive, with the Zacks Industry Rank placing Solar in the top 29% of over 250 Zacks industries, suggesting that the industry outlook can materially impact stock performance [9]