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

The alteration was chiefly owed to little star module mean selling prices, partially balanced by accrued artillery retention and task sales.

Gross nett was $217 million, up 2% twelvemonth implicit year. On stronger artillery and task sales, gross borderline improved to 14.3% from 12.5% twelvemonth implicit year.

Total module shipments recognized arsenic gross reached 8.2 GW, a diminution of 2% sequentially and an summation of 1% YoY. This full includes 401 MW delivered to the company’s utility-scale star projects.

Operating expenses roseate to $344 million, up from $213 cardinal YoY, chiefly owed 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 nett nonaccomplishment of $99 million, oregon $1.47 per share, missing the EPS statement of $0.11.

The institution generated $66 cardinal successful operating currency travel for the quarter. Total indebtedness stood astatine $5.2 cardinal arsenic of December 31, 2024, with $2.4 cardinal from CSI Solar, $2.6 cardinal from Recurrent Energy, and $0.2 cardinal successful convertible notes.

As of December 31, 2024, Recurrent Energy’s star task improvement pipeline totaled 24.9 GWp, including 1.9 GWp nether construction, 4.2 GWp successful backlog, and 18.8 GWp successful precocious and early-stage development. Additionally, the e-STORAGE pipeline expanded to 79 GWh, with $3.2 cardinal successful contracted backlog.

Shawn Qu, Chairman and CEO, commented, “2024 was a challenging twelvemonth for the star industry, with aggravated contention and ongoing argumentation and trade-related uncertainties creating operational and fiscal headwinds. Despite these industry-wide pressures, our modules concern executed targeted strategical adjustments, enabling america to support comparatively stronger profitability compared to the broader market.”

“Energy retention was a cardinal profitability driver, arsenic we delivered some quarterly and afloat twelvemonth shipment records. While we expect borderline normalization successful this segment, our precedence remains scaling measurement and further diversifying our planetary footprint. With our largest-ever pipeline and a robust contracted backlog, we person beardown visibility into aboriginal growth,” commented Yan Zhuang, President of Canadian Solar’s subsidiary CSI Solar.

Q1 Outlook: Canadian Solar expects full gross of $1.0 billion—$1.2 billion, versus a statement estimation of $1.593 billion, and anticipates a gross borderline of 9 – 11%.