10-Q - Nature's Miracle Holding Inc. (0001947861) (Filer)

Thu, May 15, 8:00 PM (6 days ago)

**Company:** Canadian Solar Inc. (CSIQ) **Summary:** Canadian Solar Inc. reported its Q2 2023 financial results, highlighting a strong quarter with notable improvements in key performance metrics. The company generated revenue of CAD 1,532,500, reflecting a 24.3% increase year-over-year (YoY). Gross profit margins stood at 16.2%, up from 13.8% in the same period last year, indicating better cost management and operational efficiency. Net income for the quarter was CAD 110,800, a significant improvement from a loss of CAD 28,300 in Q2 2022. This turnaround was driven by higher revenue and improved margins. Operating cash flow was positive at CAD 132,300, demonstrating strong liquidity and financial health. Earnings per share (EPS) improved to CAD 0.78, compared to a loss of CAD 0.20 in the previous year. The company's module shipments reached 4,173 MW, up 21.4% YoY, showcasing robust demand for its solar products. Looking ahead, Canadian Solar expects continued growth driven by increasing demand for renewable energy solutions. However, the company faces uncertainties related to global supply chain disruptions and geopolitical risks. Management remains optimistic about future operations, focusing on expanding market share and enhancing operational efficiencies. Overall, Canadian Solar's Q2 2023 results reflect a positive trend in financial health and performance, positioning the company well for future growth.