Canadian Solar Withdraws FY20 Revenue Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Thursday, Canadian Solar Inc. (CSIQ) initiated revenue and module shipments outlook for the second quarter and maintained its full-year 2020 module shipments outlook.

However, the company is withdrawing its financial guidance for the full-year 2020, due to the uncertainty caused by COVID-19 with respect to business conditions in the second half of 2020.

For the second quarter, the company expects total revenue in a range of $630 million to $680 million and total module shipments in a range of 2.5 GW to 2.7 GW.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $779.70 million for the quarter.

For fiscal 2020, the company continues to project total module shipments in a range of 10 GW to 12 GW.

The company said this outlook is subject to uncertainty with respect to, among other things, final customer demand and project construction and sale schedules, and the ongoing global impact of COVID-19.