Business
Canadian Solar Reports Second Quarter 2025 Results
KITCHENER, ON, Aug. 21, 2025 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) today announced financial results for the
About this update from Canadian Solar Inc.
[{"type":"text","content":"KITCHENER, ON, Aug. 21, 2025 /PRNewswire/ -- Canadian Solar Inc. (\"Canadian Solar\" or the \"Company\") (NASDAQ: CSIQ) today announced financial results for the second quarter ended June 30, 2025.\n\nSecond Quarter Highlights\n14% quarter-over-quarter (\"qoq\") increase in solar module shipments to 7.9 GW, within guidance of 7.5 GW to 8.0 GW.29.8% gross margin, exceeding guidance of 23% to 25%.Released the 2024 Sustainability Report on May 29, 2025, with updated disclosures aligned to global reporting standards.Dr. Shawn Qu, Chairman and CEO, commented, \"We delivered a second quarter largely in line with expectations. While revenue came in below guidance due to storage shipments shifting to the second half and delays in certain project sales, gross margin exceeded expectations, driven by a higher mix of North America module shipments and robust storage volumes. Following the surge in installations in China during the first half, we expect demand to normalize as the market adjusts to a new paradigm. We remain focused on navigating the uncertain policy environment with a focus on risk management and sustainable profitability.\"\nYan Zhuang, President of Canadian Solar's subsidiary CSI Solar, said, \"In the second quarter, we delivered module shipments near the high end of guidance. Despite tariff headwinds, e-STORAGE achieved one of its strongest quarters. With solar supply chain pricing trending higher and storage margins normalizing, we expect margin pressure in the second half. We remain focused on strategically managing module volumes to less profitable markets and growing our storage volumes globally. Meanwhile, we continue to build emerging profitability drivers such as our residential energy storage systems and bundled sales solutions.\"\nIsmael Guerrero, CEO of Canadian Solar's subsidiary Recurrent Energy, said, \"Revenue and profitability in the second quarter were sequentially lower, primarily due to lighter project sales. We monetized over 200 MW of projects in Europe and Japan, including our first and profitable sale of a battery energy storage project in Italy, while a project sale in Latin America shifted to the second half of the year. Overall, we expect our electricity sales revenue to grow steadily, as we enhance the performance of our existing IPP portfolio and advance construction in our target markets, with m...