Canadian Solar reports Q2 EPS $2.39, consensus $1.52

Reports Q2 revenue $2.36B, consensus $2.48B. Shawn Qu, chairman and CEO, commented, “We achieved strong results in the second quarter of 2023 delivering record net income of $170 million, or $2.39 per diluted share. We successfully completed the IPO of our CSI Solar subsidiary, raising approximately $975 million in gross proceeds to support our ambitious growth plans across our solar and battery energy storage businesses. We also continued to strengthen our competitive position in core markets such as the U.S., where we are making long-term investments and building a state-of-the-art 5 GW solar module manufacturing plant under the backdrop of the Inflation Reduction Act. We are proud to be embarking on these growth initiatives with long-term partners such as EDF Renewables, working together to advance sustainable energy solutions to decarbonize the grid. We also recently published our latest ESG Sustainability Report, providing comprehensive updates on our efforts to conduct business ethically and sustainably.”