Canadian-Chinese solar company Canadian Solar Inc. achieved net revenue in the second quarter of 2017 of $692.4 million, up 2.3 percent from $677.0 million in the first quarter of 2017 and down 14.1 percent from $805.9 million in the second quarter of 2016. Net income attributable to Canadian Solar was $38.2 million compared to net loss of $13.3 million in the first quarter of 2017 and net income attributable to Canadian Solar of $40.4 million in the second quarter of 2016. The company had $961.6 million of cash, cash equivalents and restricted cash as of June 30, 2017, compared to $961.4 million as of March 31, 2017. Solar module shipments totaled 1,638 MW, compared to 1,489 MW in the first quarter of 2017 and 1,290 MW in the second quarter of 2016.

Regarding the first half of 2017, revenues were $1,369 million compared to $1,527 million in Q2 2016. Net income was $24.8 million compared to $62.9 million in Q2 2016.

As of July 31, 2017, the late-stage solar project pipeline, including those in construction, totaled approximately 1,391 MW, which included 362 MW in Japan, 120 MW in the USA, 210 MW in China, 399 MW in Brazil, 108 MW in India, 118 MW in Australia, 68 MW in Mexico and 6 MW in Africa. In addition, Canadian Solar has a portfolio of solar power plants in operation, totaling 1,260.2 MW as of June 30, 2017:
The company plans to expand its ingot, wafer, cell and module capacities to 1.1 GW, 4.0 GW, 4.70 GW and 7.19 GW, respectively, by December 31, 2017. For the third quarter of 2017, the company expects total solar module shipments to be in the range of approximately 1.65 GW to 1.70 GW. Total revenue for the third quarter is expected to be in the range of $805 million to $825 million. The Managing Board reiterates its expectation that total module shipments in 2017 will be in the range of 6.0 GW to 6.5 GW and the company will connect approximately 1 GW to 1.2 GW of new solar projects globally in 2017.