Canadian Solar Margins Shrink In Q3, Stock Slides
Canadian Solar Inc. (NASDAQ:CSIQ) shares are trading lower after the company reported third-quarter 2024 results below street expectations. The company reported an 18% year-over-year revenue decline to $1.51 billion, missing the consensus estimate of $1.71 billion. The decline reflects lower module ASPs and reduced project sales, partially offset by increased sales of battery energy storage solutions and higher solar module shipment volumes. The gross margin declined 20% YoY to $247.44 million a