odyd

Canadian Solar (CSIQ)

6,744 posts in this topic

4 hours ago, odyd said:

Rating Action: Moody's withdraws Canadian Solar's Ba2 rating

RATINGS RATIONALE

Moody's has withdrawn the rating for its own business reasons. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

 

Edited by explo
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Canadian is behind the reporting schedule for Q4, I wonder

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Nope, the conference is on March 21st.

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Well, CSIQ was first to post a loss, on a one timer, but a loss nevertheless. 2017 revenues guidance is massive due to as much as 50% accounted by plants sales. $4B is nothing to sniff at if they can deliver that with positive EPS for 2017.

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I totally missed the boat on those charges.

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First impressions on guidance if we assume 60% of $4B, about $2.4B in revenue is coming from the module sales, which said the ASP average is about $0.39 per watt for the year. The other $1.6B is the selling of plants. Now Japan is on the list as well.

The gross margin comments are encouraging, as the capacity additions are said to maintain or improve the gross margin.

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Operationally. they were about break even in Q4 taking out $44M charge, $48M gain and an other $16 charge (all one timers). Looks like their 2017 module business is going to be profitless at roughly $2B revenues. So profit should come mainly from the plants and the longer they wait selling them the lesser the profit. CSIQ of 2013/2014 is no more.

Edited by pg6solar
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