Canadian Solar Posts Wider Q4 Loss, Reaffirms 2025 Outlook Amid Fierce Industry Headwinds

Canadian Solar Inc. (NASDAQ:CSIQ) reported fourth-quarter 2024 results on Tuesday, with a net revenue decline of 10.6% year-over-year to $1.52 billion, below the consensus of $1.57 billion.

The decrease was mainly due to lower solar module average selling prices, partially balanced by increased battery storage and project sales.

Gross profit was $217 million, up 2% year over year. On stronger battery and project sales, gross margin improved to 14.3% from 12.5% year over year.

Total module shipments recognized as revenue reached 8.2 GW, a decline of 2% sequentially and an increase of 1% YoY. This total includes 401 MW delivered to the company’s utility-scale solar projects.

Operating expenses rose to $344 million, up from $213 million YoY, mainly due to impairment charges and higher shipping costs.

Related: Canadian Solar Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts

Canadian Solar reported an adjusted net loss of $99 million, or $1.47 per share, missing the EPS consensus of $0.11.

The company ...