GUELPH, Ontario (AP) _ Canadian Solar Inc. (CSIQ) on Tuesday reported third-quarter earnings of $58.3 million.
The Guelph, Ontario-based company said it had net income of 96 cents per share. Earnings, adjusted for non-recurring gains, came to 66 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The solar wafers manufacturer posted revenue of $759.9 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $797.9 million.
Canadian Solar shares have increased 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $17.51, a climb of 26% in the last 12 months.