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BRIEF-Canadian Solar Q4 Earnings Per Share $1.81

Published 2019-03-21, 06:26 a/m
Updated 2019-03-21, 06:30 a/m
© Reuters.  BRIEF-Canadian Solar Q4 Earnings Per Share $1.81

March 21 (Reuters) - Canadian Solar Inc CSIQ.O :

* CANADIAN SOLAR REPORTS FOURTH QUARTER AND FULL YEAR 2018 RESULTS

* Q4 ADJUSTED NON-GAAP EARNINGS PER SHARE $1.61

* Q4 EARNINGS PER SHARE $1.81

* SEES FY 2019 REVENUE $3.5 BILLION TO $3.8 BILLION

* SEES Q1 2019 REVENUE $450 MILLION TO $480 MILLION

* Q4 REVENUE $901 MILLION VERSUS REFINITIV IBES ESTIMATE OF $872 MILLION

* Q4 EARNINGS PER SHARE ESTIMATE $1.01 -- REFINITIV IBES DATA

* APPOINTMENT OF ARTHUR (LAP TAT) WONG AS AN INDEPENDENT DIRECTOR OF COMPANY, EFFECTIVE MARCH 8, 2019

* FOR Q1 OF 2019, COMPANY EXPECTS TOTAL SOLAR MODULE SHIPMENTS TO BE IN RANGE OF APPROXIMATELY 1.3 GW TO 1.4 GW

* APPOINTMENT OF ARTHUR (LAP TAT) WONG INCREASED SIZE OF BOARD OF DIRECTORS FROM FIVE TO SIX DIRECTORS

* CANADIAN SOLAR - HAD $941.0 MILLION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH AS OF DEC 31, 2018, COMPARED TO $995.0 MILLION AS OF SEPT 30, 2018

* CANADIAN SOLAR - SEES NET PROFIT FOR Q1 TO BE LOW OR NEGATIVE, DUE TO TYPICAL LOWER PRODUCTION AND SALES VOLUME DURING CHINESE NEW YEAR HOLIDAY

* INVENTORIES AT END OF Q4 OF 2018 WERE $262.0 MILLION, COMPARED TO $322.0 MILLION AT END OF Q3 OF 2018

* EXPECT 2019 FINANCIAL RESULTS TO BE LOWER THAN 2018

* EXPECT A REBOUND IN PROJECT SALES IN 2020 AND BEYOND

* CURRENTLY EXPECTS ITS NET PROFIT FOR 2019 TO BE LOWER THAN 2018

* FY2019 EARNINGS PER SHARE VIEW $2.48, REVENUE VIEW $3.94 BILLION -- REFINITIV IBES DATA

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