The earnings call presented a mixed picture. On one hand, Canadian Solar reported higher module shipments and launched innovative products, reflecting strong operational performance and growth potential. However, the company also faced profitability challenges, market overcapacity, and uncertainties due to US-China tariffs, leading to a net loss and reduced guidance for 2025.

Company Guidance -

Q2 2025

In the first quarter of 2025, Canadian Solar reported a solid performance with module shipments reaching 6.9 gigawatts, exceeding guidance slightly, and revenue totaling $1.2 billion, at the high end of their forecast. The gross margin was 11.7%, modestly surpassing expectations. Despite these achievements, the company faced challenges, including lower contributions from storage, duties, tariffs, and ongoing transformation, resulting in a net loss to shareholders of $34 million or $0.69 per diluted share. Looking forward, they anticipate module shipments for the second quarter to range between 7.5 and 8 gigawatts and energy storage solutions of 2.4 to 2.6 gigawatt-hours, with a projected revenue of $1.9 to $2.1 billion, and gross margin expected between 23% and 25%. Full-year 2025 guidance was updated, with module volume now expected between 25 and 30 gigawatts and energy storage shipments between 7 and 9 gigawatt-hours, leading to an anticipated full-year revenue of $6.1 to $7.1 billion.

Module Shipment Exceeds Guidance

Canadian Solar achieved module shipments of 6.9 gigawatts, slightly above guidance, indicating strong demand and operational efficiency.

New Product Launches

Canadian Solar announced several new products, including Anti-Hail technology and N-type High Power TOPCon Gen 2 modules, showcasing innovation in solar and energy storage.

Strong Energy Storage Pipeline

The company reported a record pipeline of 91 gigawatt hours in energy storage, highlighting significant growth potential in this segment.

Improved Shipping Costs

Average selling prices improved with a higher share of shipments to North America, and shipping costs declined sequentially due to softening global shipping rates.

Canadian Solar (CSIQ) Earnings, Revenues Date & History

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CSIQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 21, 2025	2025 (Q2)	1.34 / -	0.02	―	―	―
May 15, 2025	2025 (Q1)	-1.16 / -0.51	0.19	-366.84% (-0.70)
Mar 25, 2025	2024 (Q4)	-0.09 / 0.48	-0.02	2500.00% (+0.50)
Dec 05, 2024	2024 (Q3)	-0.21 / -0.31	0.32	-196.88% (-0.63)
Aug 22, 2024	2024 (Q2)	0.18 / 0.02	2.39	-99.16% (-2.37)
May 09, 2024	2024 (Q1)	>-0.01 / 0.19	1.19	-84.03% (-1.00)
Mar 14, 2024	2023 (Q4)	0.02 / -0.02	1.11	-101.80% (-1.13)
Nov 14, 2023	2023 (Q3)	0.82 / 0.32	1.12	-71.43% (-0.80)
Aug 22, 2023	2023 (Q2)	1.52 / 2.39	1.07	123.36% (+1.32)
May 18, 2023	2023 (Q1)	0.61 / 1.19	0.14	750.00% (+1.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CSIQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 15, 2025	$10.11	$10.69	+5.74%
Mar 25, 2025	$9.70	$9.76	+0.62%
Dec 05, 2024	$12.07	$11.46	-5.05%
Aug 22, 2024	$14.56	$12.28	-15.66%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.