Canadian Solar Inc., the third-biggest solar panel maker, raised its guidance for first-quarter shipments and margins.
Canadian Solar expects shipments of 335 megawatts to 345 megawatts in the first quarter of 2013, the Guelph, Ontario-based manufacturer said today in a PR Newswire statement. That compares with its prior prediction of 290 to 310 megawatts, and shipments of 343 megawatts in the same quarter last year. The company also raised its forecast for the gross margin to a range of 9 percent to 10 percent, from an 8-to-10 percent range.
The manufacturer said it’ll release a full earnings statement on May 28.