Canadian Solar (NASDAQ:CSIQ) Posts Quarterly Earnings Results, Misses Expectations By $0.56 EPS

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 analysts’ consensus estimates of ($1.10) by ($0.56), FiscalAI reports. Canadian Solar had a net margin of 0.27% and a negative return on equity of 5.28%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was down 20.0% on a year-over-year basis.

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 Stock Performance

Shares of CSIQ stock opened at $18.52 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.86 and a current ratio of 1.07. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -51.44 and a beta of 1.31. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $34.59. The firm’s 50-day simple moving average is $19.67 and its two-hundred day simple moving average is $19.61.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Canadian Solar

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Canadian Solar in the second quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd increased its position in Canadian Solar by 335.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock worth $42,000 after buying an additional 2,463 shares during the last quarter. Quarry LP bought a new stake in shares of Canadian Solar in the fourth quarter valued at $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Canadian Solar by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock valued at $63,000 after buying an additional 312 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Canadian Solar during the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

About Canadian Solar

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.