Canadian Solar (NASDAQ:CSIQ) Issues Quarterly Earnings Results

Canadian Solar (NASDAQ:CSIQ) released its quarterly earnings results on Thursday. The solar energy provider reported ($1.66) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.56), FiscalAI reports. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.37 billion. Canadian Solar had a negative return on equity of 5.28% and a net margin of 0.27%.The firm’s revenue was down 20.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share.

Here are the key takeaways from Canadian Solar’s conference call:

• Canadian Solar is aggressively reshoring U.S. manufacturing — Mesquite modules ramped to >5 GW and are being expanded to 10 GW, while the Jeffersonville HJT cell plant (2.1 GWp phase 1, 4.2 GW phase 2) targets a total 6.3 GWp, positioning the company as the largest U.S. crystalline‑silicon cell/module manufacturer.
• Despite a 160 bps YoY gross‑margin improvement, 2025 revenue was $5.6B and the company recorded a full‑year net loss attributable to shareholders of $104M (−$2.5/sh), driven by FX losses and higher interest costs from increased debt to fund the IPP/manufacturing build‑out.
• Energy storage momentum continued with a record 7.8 GWh shipped in 2025 (up 19% YoY), a $3.6B contracting backlog (including 29 GWh of long‑term service agreements), and rising demand from data‑center related projects (notably a 2.5 GWh supply agreement).
• Q1 2026 guidance calls for 2.2–2.4 GW of module shipments and 1.7–1.9 GWh of storage with revenue of $900M–$1.1B and gross margin of 13%–15%; full‑year U.S. targets are 6.5–7 GW modules and 4.5–5.5 GWh storage, but management flags near‑term margin pressure from BABA‑compliant cell constraints and higher input costs.
• Recurrent Energy experienced project‑sale delays and asset impairments that produced a Q4 operating loss of $69M, led to pipeline pruning (now ~24 GW solar and 83 GWh storage), and prompted a strategic shift toward monetizing operating and under‑construction assets to improve cash flow.

Canadian Solar Trading Up 0.7%

NASDAQ:CSIQ opened at $18.52 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.07 and a quick ratio of 0.86. Canadian Solar has a one year low of $6.57 and a one year high of $34.59. The company has a market cap of $1.24 billion, a PE ratio of -51.44 and a beta of 1.31. The firm has a 50-day moving average of $19.67 and a 200-day moving average of $19.61.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CSIQ shares. Daiwa Securities Group upgraded shares of Canadian Solar from a “neutral” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a research report on Monday, December 29th. UBS Group upped their price target on Canadian Solar from $15.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Finally, Mizuho upgraded Canadian Solar from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $19.00 in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Canadian Solar has an average rating of “Reduce” and an average price target of $19.63.

Institutional Trading of Canadian Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSIQ. Goldman Sachs Group Inc. lifted its holdings in shares of Canadian Solar by 20.1% in the first quarter. Goldman Sachs Group Inc. now owns 548,853 shares of the solar energy provider’s stock valued at $4,748,000 after purchasing an additional 92,002 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Canadian Solar by 141.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock worth $100,000 after buying an additional 5,338 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Canadian Solar by 20.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 842,703 shares of the solar energy provider’s stock valued at $9,539,000 after buying an additional 145,867 shares during the last quarter. Raymond James Financial Inc. bought a new position in Canadian Solar during the 2nd quarter valued at $33,000. Finally, Balyasny Asset Management L.P. bought a new position in Canadian Solar during the 2nd quarter valued at $790,000. 52.36% of the stock is owned by institutional investors.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.