Canadian Solar (NASDAQ:CSIQ) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Canadian Solar (NASDAQ:CSIQ) announced its quarterly earnings data on Thursday. The solar energy provider reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.11, FiscalAI reports. Canadian Solar had a negative net margin of 1.87% and a negative return on equity of 4.21%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $950.43 million. During the same period in the prior year, the firm posted ($1.07) EPS. Canadian Solar’s revenue for the quarter was down 9.9% on a year-over-year basis.

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

• Q1 results beat expectations, with revenue of $1.1 billion at the high end of guidance, module shipments of 2.5 GW and storage revenue recognition of 2.1 GWh both above plan. Gross margin came in at 25.1%, helped by tariff refunds, though the quarter still ended with a net loss attributable to shareholders of $32 million.
• The company highlighted major progress in U.S. manufacturing, including first trial production at the Jeffersonville, Indiana HJT cell plant and a planned ramp that would make it the largest crystalline silicon solar cell manufacturer in the U.S. Mesquite, Texas module capacity is also being doubled to 10 GW by the second half of 2026.
• Energy storage remains a key growth engine, with 2.6 GWh shipped in the quarter and a $3.5 billion contracted backlog, including 34 GWh of operating projects under long-term service agreements. Management also said internal LFP cell production is now below third-party market pricing, improving competitiveness.
• Canadian Solar announced a CEO transition: Shawn Qu will move to Executive Chairman and CTO, while Colin Parkin becomes CEO. The board described the succession as planned and aligned with the company’s shift toward value-driven leadership.
• Management expects a weaker Q2 gross margin of 13% to 15% and noted ongoing solar market pressure, shipping congestion in storage, and exposure to lithium carbonate pricing. For full-year 2026, the company reiterated U.S. shipment guidance of 6.5-7 GW for modules and 4.5-5.5 GWh for storage.

Canadian Solar Stock Performance

Shares of NASDAQ:CSIQ traded up $0.06 during trading on Friday, hitting $17.88. The company’s stock had a trading volume of 4,460,893 shares, compared to its average volume of 3,356,813. The company has a 50-day moving average of $15.20 and a 200-day moving average of $20.04. Canadian Solar has a 12 month low of $9.41 and a 12 month high of $34.59. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.02 and a quick ratio of 0.83. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -7.10 and a beta of 1.44.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Roth Mkm dropped their price target on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Mizuho dropped their price target on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Canadian Solar in a report on Friday, March 27th. Finally, Wells Fargo & Company dropped their price target on shares of Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.36.

More Canadian Solar News

Here are the key news stories impacting Canadian Solar this week:

• Positive Sentiment: Canadian Solar reported Q1 EPS of ($0.71), better than the consensus loss of ($1.06), and revenue of $1.08 billion, above estimates of $950.4 million, which suggests execution was stronger than feared. Article Title
• Positive Sentiment: The company said solar module shipments reached 2.5 GW, above guidance, and battery storage shipments surged, pointing to improving demand in key growth areas. Article Title
• Positive Sentiment: Management described the quarter as supported by strategic progress, including continued U.S. solar manufacturing expansion and stronger-than-expected operational results. Article Title
• Neutral Sentiment: Analysts currently rate CSIQ at an average “Hold”, suggesting expectations are balanced rather than strongly bullish. Article Title
• Negative Sentiment: Canadian Solar’s updated Q2 2026 revenue guidance of $1.0 billion to $1.2 billion came in well below the consensus estimate of about $1.6 billion, which likely weighed on the shares. Article Title
• Negative Sentiment: Recent commentary also highlighted a broader pullback in Canadian Solar stock, with investors focusing on the softer forecast despite the earnings beat. Article Title

Hedge Funds Weigh In On Canadian Solar

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Canadian Solar in the 2nd quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Canadian Solar by 335.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider’s stock worth $42,000 after purchasing an additional 2,463 shares during the period. Quarry LP bought a new position in shares of Canadian Solar in the 4th quarter worth approximately $54,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Canadian Solar by 7.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider’s stock worth $63,000 after purchasing an additional 312 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Canadian Solar in the 3rd quarter worth approximately $73,000. 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.