.......Notably, Canadian Solar expects to book profits for both the three-month and nine-month periods ended Sep 30 on a GAAP basis. In the second quarter 2013, the company reported an adjusted loss per share of 29 cents, wider than the Zacks Consensus Estimate of a loss of 26 cents. However, it was narrower than the loss of 59 cents in the second quarter of 2012.
Canadian Solar is one of the world's largest solar companies. The company is progressing well both on its owned utility-scale solar projects as well as other solar projects where it acts as an Engineering, Procurement and Construction contractor. Also, the company caters to a geographically diverse customer base spread across its key markets in Germany, Spain and the U.S., as well as emerging market opportunities in France, the Czech Republic, Italy, South Korea, Canada, Japan and China.
Canadian Solar is continuously receiving orders from domestic as well as international clients for solar modules and other allied services. The company has gained goodwill in terms of maintaining product and service standards along with delivery timing. Recently, its subsidiary Canadian Solar Solutions Inc. has signed a contract with a fund managed by BlackRock, Inc. ( BLK ) to sell two utility-scale solar power plants. Again, Canadian Solar sold two projects, Brockville 2 and Burritts Rapids, to TransCanada Corporation ( TRP ) with a value exceeding $92.2 million. In Jul 2013, Canadian Solar completed 30 MW of rooftop PV installations in China's City of Suzhou under the country's Golden Sun program.
In October, Canadian Solar Solutions Inc. commenced the construction of the 100 MW Grand Renewable solar project in Ontario. The Grand Renewable Solar Project developed by Samsung Renewable Energy Inc. will feature Canadian Solar's CS6X modules. It will be the largest PV plant in Canada and is expected to be operational in 2015.
Canadian Solar currently has a Zacks Rank
#3 (Hold). However, better performing solar stocks currently include Zacks Ranked
#2 (Buy) ReneSola Ltd. ( SOL )( and JASO
#2Buy )
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