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Markets News

BRIEF-Canadian Solar Reports Q1 Earnings Per Share $0.72

May 16 (Reuters) - Canadian Solar Inc:

* CANADIAN SOLAR REPORTS FIRST QUARTER 2018 RESULTS

* Q1 EARNINGS PER SHARE $0.72

* SEES Q2 2018 REVENUE $690 MILLION TO $730 MILLION

* Q1 REVENUE $1.42 BILLION VERSUS I/B/E/S VIEW $1.33 BILLION

* Q1 EARNINGS PER SHARE VIEW $0.47 -- THOMSON REUTERS I/B/E/S

* QTRLY TOTAL SOLAR MODULE SHIPMENTS WERE 1,374 MW, COMPARED TO 1,831 MW IN Q4 OF 2017

* INVENTORIES AT END OF Q1 OF 2018 WERE $414.1 MILLION, COMPARED TO $346.1 MILLION AT END OF Q4 OF 2017

* FOR Q2 OF 2018, COMPANY EXPECTS TOTAL SOLAR MODULE SHIPMENTS TO BE IN RANGE OF APPROXIMATELY 1.50 GW TO 1.60 GW

* CANADIAN SOLAR - UTILITY-SCALE SOLAR POWER PLANTS IN OPERATION PORTFOLIO AT APRIL 30 WAS ABOUT 948 MWP, ESTIMATED TOTAL RESALE VALUE OF ABOUT $1.1 BILLION

* SAYS GROSS MARGIN FOR Q2 IS EXPECTED TO BE BETWEEN 20.0% AND 22.0%.

* UNDER BUSINESS OUTLOOK, EXPECT SHIFT IN GLOBAL DEMAND TO DEVELOPING MARKETS TO OFFSET CHINA, INDIA AND U.S.

* CANADIAN SOLAR SAYS WORKING TO SECURE APPROVAL FOR SALE OF 3 U.S. SOLAR POWER PLANTS TOTALING 399 MWP

* UNDER BUSINESS OUTLOOK, ALSO EXPECT DEMAND IN OTHER MARKETS TO IMPROVE, INCLUDING EUROPE, AFRICA, ARGENTINA AND MEXICO Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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