Canadian Solar (NASDAQ:CSIQ – Get Free Report) posted its quarterly earnings data on Thursday. The solar energy provider reported ($0.71) earnings per share 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 during the quarter, compared to analyst estimates of $950.43 million. During the same quarter last year, the firm posted ($1.07) EPS. The business’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 Trading Up 0.3%
Shares of CSIQ traded up $0.06 during midday trading on Friday, hitting $17.88. The stock had a trading volume of 4,460,893 shares, compared to its average volume of 3,356,813. Canadian Solar has a fifty-two week low of $9.41 and a fifty-two week high of $34.59. The business has a 50-day simple moving average of $15.20 and a two-hundred day simple moving average of $20.04. The firm has a market cap of $1.21 billion, a P/E ratio of -7.10 and a beta of 1.44. The company has a current ratio of 1.02, a quick ratio of 0.83 and a debt-to-equity ratio of 0.97.
Canadian Solar News Summary
- 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
Institutional Trading of Canadian Solar
Hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Canadian Solar in the fourth quarter worth approximately $649,000. Daiwa Securities Group Inc. lifted its position in shares of Canadian Solar by 21.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,400 shares of the solar energy provider’s stock worth $532,000 after purchasing an additional 3,900 shares in the last quarter. Polen Capital Management LLC purchased a new stake in shares of Canadian Solar in the fourth quarter worth approximately $528,000. Balyasny Asset Management L.P. purchased a new stake in shares of Canadian Solar in the fourth quarter worth approximately $475,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Canadian Solar in the fourth quarter worth approximately $400,000. 52.36% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Mizuho decreased their target price on shares of Canadian Solar from $19.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Roth Mkm decreased their target price on shares of Canadian Solar from $30.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Wall Street Zen cut shares of Canadian Solar from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Canadian Solar in a report on Friday, March 27th. Finally, Freedom Capital upgraded shares of Canadian Solar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 24th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.36.
Get Our Latest Research Report on CSIQ
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.
Read More
- Five stocks we like better than Canadian Solar
- 3 Stocks to Own If Gas Prices Keep Rising
- 3 Crucial Aerospace Component Makers That Analysts Love
- Alphabet’s Googlebook Brings Gemini AI to PC Hardware
- Peloton Stock Gives Back Gains After Upbeat Earnings Report
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.
