GUELPH, Ontario, Feb. 6, 2019 /PRNewswire/ -- Canadian Solar
Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the
world's largest solar power companies today announced it plans to
report its financial results for the fourth quarter and full year
2018 on Thursday, March 21, 2019.
Management will host a conference call to discuss these results and
its business outlook for the first quarter and full year 2019.
The Company now expects its shipments for the fourth quarter of
2018 to be in the range of 1.90 GW to 1.95 GW, compared to the
previous guidance of 1.67 GW to 1.72 GW; its net revenue for the
fourth quarter of 2018 to be in range of $850 million to $900
million, compared to the previous guidance of $690 million to $800
million; and its gross margin for the fourth quarter of 2018
to be in the range of 27% to 28% compared to the previous guidance
of 24% to 26%.
The Company has been closely monitoring the bankruptcy filing of
Pacific Gas and Electric Company ("PG&E"). Potential outcomes
are dependent upon a variety of factors, including future decisions
of PG&E, the bankruptcy court, the investment community, and
other stakeholders. Consequently, the Company can only
provide a preliminary assessment of its potential exposure.
The Company does not have material exposure with respect to
previously sold projects. It does, however, have potential
exposure with respect to 60 MWac of power purchase agreements with
PG&E for a portion of the Gaskell West 2 project, which is
planned to reach commercial operation in 2020. These power purchase
agreements were executed in late 2017 at very competitive
prices. Further, the Company has potential exposure with
respect to interconnection agreements with PG&E including an
early to mid-stage development project and the late-stage Slate
project, which together total approximately 700 MWac. Based on
current information, the planned commercial operation dates have
not been impacted for any projects in the Company's
pipeline. The Company will provide a further update, as
possible, in its fourth quarter and full year 2018 earnings
conference call.
About Canadian Solar Inc.
Canadian Solar was founded
in 2001 in Canada and is one of
the world's largest and foremost solar power companies. It is
a leading manufacturer of solar photovoltaic modules and provider
of solar energy solutions and has a geographically diversified
pipeline of utility-scale power projects in various stages of
development. Over the past 17 years, Canadian Solar has
successfully delivered over 30 GW of premium quality modules to
customers in over 150 countries around the world. Canadian Solar is
one of the most bankable companies in the solar industry, having
been publicly listed on NASDAQ since 2006. For additional
information about the Company, follow Canadian Solar on LinkedIn or
visit www.canadiansolar.com.
Safe Harbor/Forward-Looking Statements
Certain
statements in this press release regarding the Company's expected
future shipment volumes, gross margins are forward-looking
statements that involve a number of risks and uncertainties that
could cause actual results to differ materially. These statements
are made under the "Safe Harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify forward-looking statements by such terms as "believes,"
"expects," "anticipates," "intends," "estimates," the negative of
these terms, or other comparable terminology. Factors that could
cause actual results to differ include general business and
economic conditions and the state of the solar industry;
governmental support for the deployment of solar power; future
available supplies of high-purity silicon; demand for end-use
products by consumers and inventory levels of such products in the
supply chain; changes in demand from significant customers; changes
in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns;
changes in product mix; capacity utilization; level of competition;
pricing pressure and declines in average selling prices; delays in
new product introduction; delays in utility-scale project approval
process; delays in utility-scale project construction; delays in
the completion of project sales; continued success in technological
innovations and delivery of products with the features customers
demand; shortage in supply of materials or capacity requirements;
availability of financing; exchange rate fluctuations; litigation
and other risks as described in the Company's SEC filings,
including its annual report on Form 20-F filed on April 26, 2018. Although the Company believes
that the expectations reflected in the forward-looking statements
are reasonable, it cannot guarantee future results, level of
activity, performance, or achievements. Investors should not place
undue reliance on these forward-looking statements. All information
provided in this press release is as of today's date, unless
otherwise stated, and Canadian Solar undertakes no duty to update
such information, except as required under applicable law.
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SOURCE Canadian Solar Inc.