CSI Solar Third Quarter 2024 Earnings: Beats Expectations

CSI Solar (SHSE:688472) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥12.2b (down 6.1% from 3Q 2023).
• Net income: CN¥715.6m (down 22% from 3Q 2023).
• Profit margin: 5.9% (down from 7.0% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.19 (down from CN¥0.25 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CSI Solar Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 32%.

Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China.

Performance of the Chinese Semiconductor industry.

The company's shares are down 2.2% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for CSI Solar (1 is significant) you should be aware of.

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