Canadian Solar has issued upward shipment and margin guidance ahead of releasing its third quarter financial results on November 13.

The company guided PV module shipments for the third quarter to be in the range of approximately 460MW to 480MW, compared to previous guidance of shipments of between 410MW to 430MW.

Canadian Solar had shipped 455MW in the second quarter, exceeding previous guidance of 388MW to 428MW.

The sale of PV power plants in the quarter were said to have significantly improved gross margin to a range of 18% to 20%, compared to its original guidance of 10% to 12%, while revenue for the quarter is expected to be in the range of US$470 million to US$495 million.

Net revenue for the second quarter of 2013 was US$304 million, up 44.3% sequentially.

Canadian Solar said that it also expected to be profitable at the net-income level on a US-GAAP basis for the quarter and for the nine-month period.

