Canadian Solar Reports Record 2015 Shipments And Sales

March 11th, 2016 by Joshua S Hill

Canadian Solar, one of the world’s leading solar manufacturers and developers, stamped its authority on the market, reporting record shipments and sales for 2015.

The Canada-based ‘Silicon Module Super League’ (SMSL) member reported its fourth quarter 2015 and full year 2015 financial report this week, and it was good news across the board, with record shipments and revenue in the fourth quarter and record shipments and revenue for the full year.

“This was a record breaking year for Canadian Solar,” exclaimed Dr Shawn Qu, Canadian Solar’s Chairman and Chief Executive Officer. “Our track record of consistent and reliable execution continues to reinforce our competitive position and strong bankability. This in turn is providing us with excellent support from financial institutions and investors worldwide.”

Total solar module shipments for the fourth quarter were a record 1,430 MW, up significantly from the third quarter’s 1,150 MW. The company brought in net revenue of a record $1,120.3 million, up from $849.8 million in the third quarter.

The record fourth quarter was the perfect way to end a record year, with Canadian Solar shipping a record total of 4,706 MW in 2015, compared to only 2.8 GW in 2014. Net revenue also reached a record high for the year, finishing at $3.47 billion, compared to $2.96 billion in 2014.

Investors reacted badly to the company’s net income, however, which was $171.9 million, or $2.93 per diluted share, compared to $239.5 million, or $4.11 per diluted share, in 2014. The company’s shares, despite record sales and shipments, slumped 13% on news of the company’s earnings, and also on news of the company’s guidance for 2016.

Canadian Solar provided guidance of total module shipments in the range of 1,085 MW and 1,135 MW for the first quarter, with total revenue expected to be in the range of $645 million to $695 million. Full year shipping guidance sits in the range of approximately 5.4 GW to 5.5 GW, with revenue expected to be in the range of $2.9 billion to $3.1 billion.

Dan Caplinger over at The Motley Fool posits that “Canadian Solar shareholders worry that sagging sales could threaten market share in the long run.” Another worthwhile read in conjunction with Canadian Solar’s latest earnings report is John Panell’s piece regarding the company’s position on yieldcos over the past 12 months: You can find the piece over at PV-Tech.









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