(RTTNews) – Canadian Solar Inc. (CSIQ) reported a profit for its third quarter that increased from the same period last year.
The company’s earnings totaled $35.24 million, or $0.56 per share. This compares with $8.83 million, or $0.15 per share, in last year’s third quarter.
Excluding items, Canadian Solar Inc. reported adjusted earnings of $28.24 million or $0.42 per share for the period.
Analysts had expected the company to earn $0.18 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 35.2% to $1.23 billion from $0.91 billion last year.
Canadian Solar Inc. earnings at a glance:
-Earnings (Q3): $28.24 Mln. vs. $9.06 Mln. last year.
-EPS (Q3): $0.42 vs. $0.15 last year.
-Analysts Estimate: $0.18
-Revenue (Q3): $1.23 Bln vs. $0.91 Bln last year.
Next quarter revenue guidance: $1.5 – $1.6 Bln
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