{"id":34950,"date":"2019-11-15T06:50:04","date_gmt":"2019-11-14T20:20:04","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=34950"},"modified":"2019-11-15T06:50:04","modified_gmt":"2019-11-14T20:20:04","slug":"canadian-solar-q3-mb1293","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/canadian-solar-q3-mb1293\/","title":{"rendered":"Canadian Solar’s Q3 Results"},"content":{"rendered":"

\"Canadian<\/p>\n

Canadian Solar shipped more solar panel capacity in the third quarter than guidance predicted and the firm is planning a significant increase in module manufacturing capacity.<\/p>\n

For the quarter, total solar module shipments amounted to 2,387 MW (including 61 MW for the company’s own utility-scale solar power projects), up on the 2,143 MW reported for the second quarter of this year and above guidance of 2,200 MW to 2,300 MW for Q3.<\/span><\/p>\n

With Q3’s results added, this would bring the company’s total cumulative shipments close to 38.4GW.<\/p>\n

For this quarter, Canadian Solar expects total solar module shipments to be in the range of 2.3\u00a0GW to 2.4\u00a0GW, and for the full year approximately 8.4 GW to 8.5 GW. 6.6 GW of Canadian Solar panels<\/a> were shipped worldwide last year.<\/p>\n

Net revenue for Q3 came to $759.9 million, compared to $1.0 billion in the second quarter of 2019 and third quarter 2019 guidance of $780 million to $810 million. The ongoing decreasing cost of solar panels<\/a> is great news for consumers, but not so great for manufacturers.<\/p>\n

Ramping Up Manufacturing Capacity<\/h2>\n

The company also provided updated details of its manufacturing capacity expansion milestones out to the end of next year. The following indicates annual capacity as at September 30 and where Canadian Solar plans to be on December 31, 2020, depending on market conditions.<\/p>\n