Canadian Solar Prelim. Q4 Profit Surges; Expects Q1 Revenue Below View

(RTTNews) - Canadian Solar Inc. (CSIQ), a Canadian solar company, on Friday, posted a surge in preliminary net income for the fourth quarter, amidst an increase in revenue.

For the fourth quarter, the Guelph-headquartered firm reported a preliminary net income of around $70 million, compared with $25.96 million, recorded for the last quarter of 2021.

Preliminary revenue stands at around $1.97 billion, higher than the previous year's $1.53 billion.

Looking ahead, for the first quarter, the company expects revenue of $1.6 billion - $1.8 billion.

Four analysts, on average, polled by Thomson Reuters expect Canadian Solar to post revenue of $2.04 billion.