The earnings call presented a mix of positive developments such as strong shipments, gross margin exceeding guidance, and significant investments in American manufacturing, alongside challenges like ongoing industry pressures, a net loss for the quarter, and project delays. The company remains well-positioned for growth but faces hurdles due to market conditions and regulatory changes.

Company Guidance

During Canadian Solar's Q3 2024 earnings call, the company provided guidance for the upcoming quarter and year. For Q4 2024, Canadian Solar anticipates solar module shipments between 8 to 8.5 gigawatts, with battery energy storage shipments ranging from 2 to 2.4 gigawatt hours. Despite intra-group eliminations, this is expected to be their largest storage quarter to date. Revenue forecasts for the fourth quarter are projected to be between $1.5 billion and $1.7 billion, with gross margins expected to range from 16% to 18%. Looking into 2025, the company projects total solar module shipments between 30 to 35 gigawatts and battery energy storage shipments ranging from 11 to 13 gigawatt hours, including allocations for their own projects. The company plans to manage through market uncertainties with a focus on sustainable growth and rigorous risk management.

Strong Solar Module and Energy Storage Shipments

In the third quarter, Canadian Solar shipped 8.4 gigawatts of solar modules and 1.8 gigawatt hours of battery energy storage solutions. Shipments to North America accounted for over 30% of total shipments.

Gross Margin Exceeds Guidance

Canadian Solar reported a gross margin of 16.4% for the third quarter, surpassing guidance despite industry challenges.

Expansion in American Manufacturing

Canadian Solar is investing nearly $2 billion in American manufacturing, including a new facility in Kentucky for battery cells, aiming to employ over 4,000 people across Texas, Indiana, and Kentucky.

Record Backlog in e-STORAGE

The e-STORAGE business achieved record shipments of 1.8 gigawatt hours and grew its backlog to $3.2 billion as of November 30.

Partnership with SOLARCYCLE

Canadian Solar partnered with SOLARCYCLE to offer comprehensive recycling services to U.S. customers, showcasing its commitment to sustainability.

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Canadian Solar (CSIQ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CSIQ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 13, 2025	2024 (Q4)	-0.03 / -	-0.02	―	―	―
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)
Mar 21, 2023	2022 (Q4)	0.70 / 1.11	0.39	184.62% (+0.72)
Nov 22, 2022	2022 (Q3)	0.49 / 1.12	0.52	115.38% (+0.60)

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

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CSIQ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 05, 2024	$12.07	$11.46	-5.05%
Aug 22, 2024	$14.56	$12.28	-15.66%
May 09, 2024	$17.60	$17.28	-1.82%
Mar 14, 2024	$19.56	$19.38	-0.92%

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.

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