Skip to content
Subscriber Only

Canadian Solar’s Profit Slumps 68% Amid Yieldco Transition Plan

Updated on

Canadian Solar Inc., the third-biggest panel maker, reported a 68 percent slump in earnings as it transitions from a company focused on manufacturing to one that also builds, owns and operates renewable power plants.

Net income in the second quarter was $17.9 million, or 31 cents a share, down from $55.8 million, or 95 cents, a year earlier, the Guelph, Ontario-based company said in a statement Tuesday.