CSIQ Q1 2018 Earnings Report — Canadian Solar Inc. Revenue & Financial Results | Market Cap Arena

Canadian Solar Inc.CSIQ

Q1 2018 Earnings

Reported March 31, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2018	Q4 2017	Q1 2017	QoQ Change	YoY Change
Revenue	$1.4B	$1.1B	$677M	28.5%	110.5%
Op. Income	$78M	$130M	-$2M	-39.9%	3456.8%
Gross Margin	10.1%	19.7%	13.5%	-9.6pp	-3.4pp
Net Margin	3.0%	5.5%	-2.0%	-2.5pp	5.0pp
EPS (Diluted)	$0.72	$1.01	$-0.23	-28.7%	413.0%
Free Cash Flow	$0	$0	$0	—	—

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$1.3B
GROSS PROFIT	$144M
R&D Expenses	$9M
Selling & Marketing	$42M
General & Administrative	$49M
SG&A Expenses	$91M
Other Expenses	-$35M
Operating Expenses	$66M
Cost & Expenses	$1.3B
OPERATING INCOME	$78M
Interest Income	$4M
Interest Expense	$30M
Other Income/Expenses	-$30M
INCOME BEFORE TAX	$48M
Income Tax Expense	$4M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$4M
EBIT	$78M
EBITDA	$78M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$1.3B
GROSS PROFIT	$144M
R&D Expenses	$9M
Selling & Marketing	$42M
General & Administrative	$49M
SG&A Expenses	$91M
Other Expenses	-$35M
Operating Expenses	$66M
Cost & Expenses	$1.3B
OPERATING INCOME	$78M
Interest Income	$4M
Interest Expense	$30M
Other Income/Expenses	-$30M
INCOME BEFORE TAX	$48M
Income Tax Expense	$4M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$43M
D&A	$4M
EBIT	$78M
EBITDA	$78M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$0
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	-$45M
Change in Working Capital	$0
OPERATING CASH FLOW	$0
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$0
FREE CASH FLOW	$0
Net Change in Cash	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$567M
Short-Term Investments	$0
Net Receivables	$460M
Inventory	$414M
Other Current Assets	$1.9B
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$854M
Goodwill	$4M
Intangible Assets	$103M
Long-Term Investments	$415M
Tax Assets	$135M
Other Non-Current Assets	$376M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$5.3B
Account Payables	$914M
Short-Term Debt	$2.0B
Deferred Revenue	$53M
Other Current Liabilities	$669M
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$328M
Deferred Revenue NC	$88M
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$115M
TOTAL NON-CURRENT LIABILITIES	$536M
TOTAL LIABILITIES	$4.2B
Common Stock	$702M
Additional Paid-In Capital	$2M
Retained Earnings	$428M
Treasury Stock	$0
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$39M
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$5.3B
Total Debt	$2.3B
Net Debt	$1.7B