Canadian Solar falls as Q2 loss widens on lower module and project sales
CSIQ•CSIQ•CSIQ•CSIQ•Shares of solar and battery company Canadian Solar CSIQ.O fell 8.4% to $12.7 premarket after the company posted a wider second-quarter loss as lower solar module and project sales offset strong battery energy-storage shipments.
The company reported a second-quarter net loss attributable of $77 million, compared with net income of $7 million a year earlier.
Second-quarter net revenue dropped to $1.2 billion from $1.7 billion a year earlier on lower module and project sales.
Solar-module shipments fell 60% from a year earlier to 3.1 GW, while battery energy-storage shipments rose 73% from a year earlier to 3.7 GWh.
As of the last close, CSIQ was down 41.65% year to date.
