NASDAQ$CSIQ
Canadian Solar Inc. · Q4 2026 earnings
Q4 2026 earnings · · Before market open · Investor relations
Briefing
Canadian Solar posted $1.08B Q1 revenue with 25.1% gross margin as module and storage shipments beat guidance despite a $32M net loss.
Canadian Solar reported Q1 2026 net revenues of $1.08 billion at the high end of guidance, with gross margin expanding to 25.1% aided by a $93 million IEEPA tariff refund benefit. Solar module shipments recognized as revenue were 2.5 GW and energy storage shipments 2.1 GWh, both above guidance. GAAP net loss attributable to shareholders narrowed to $32 million ($0.71 per share) from $86 million in Q4 2025. Colin Parkin was appointed CEO as founder Shawn Qu transitioned to Executive Chairman and CTO, and trial production began at the Jeffersonville HJT cell factory.
- Net revenues $1.08B with gross margin 25.1% (up from 10.2% in Q4) including $93M tariff refund benefit.
- Shipped 2.5 GW solar modules and 2.1 GWh battery storage, both exceeding guidance ranges.
- Manufacturing segment revenue $949.7M; Recurrent Energy $139.2M including Fort Duncan project sale.
- Colin Parkin named CEO; Jeffersonville HJT cell factory began trial production with commercial ops targeted July 2026.
- Q2 outlook: revenue $1.0–1.2B, gross margin 13–15%, module shipments 3.1–3.3 GW, storage 2.8–3.2 GWh.
Headline financials
Revenue & EPS history
Canadian Solar · Revenue · Quarterly
$1.08B
Revenue by segment
Canadian Solar · $1.97B total across 3 segments · Q4 2022
- CSI Solar$1.98B+47.1%100.2%
- Recurrent Energy$73.7M-68.3%3.7%
- Eliminations-$78.1M-66.2%-4.0%
Forward guidance
For Q2 2026, Canadian Solar expects revenue of $1.0–1.2B, gross margin of 13–15%, module shipments of 3.1–3.3 GW, and storage shipments of 2.8–3.2 GWh. Full-year 2026 U.S. guidance reiterated at 6.5–7.0 GW modules and 4.5–5.5 GWh storage.
Tailwinds
- Storage volumes expected to reach record levels in second half
- U.S. HJT cell commercial operations expected in about two months
- Reiterating U.S. shipment targets for 2026
Headwinds
- Q2 gross margin guided down to 13–15% from Q1's 25.1%
- Solar margins remain under pressure; storage margins normalizing
- Policy uncertainty and lithium carbonate price exposure cited
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2026
-1.2%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+0.8%
Avg return
30 days after
47%
30 / 64 earnings
Positive
+16.7%
Q3 2018
Best reaction
-27.0%
Q4 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -27.0% | -20.9% | -16.5% | |
| Q3 2025 | +0.8% | -7.1% | -20.4% | |
| Q2 2025 | -18.6% | -10.7% | -8.2% | |
| Q1 2025 | +5.8% | +8.1% | +9.2% | |
| Q4 2024 | +0.5% | -4.9% | -4.4% | |
| Q3 2024 | -0.5% | +4.8% | +1.0% | |
| Q2 2024 | -7.4% | -10.4% | -3.5% | |
| Q1 2024 | -10.8% | -1.9% | -1.2% | |
| Q4 2023 | -0.6% | -4.3% | -19.5% | |
| Q3 2023 | -2.0% | -2.5% | +13.4% | |
| Q2 2023 | -12.6% | -15.1% | -14.9% | |
| Q1 2023 | +3.8% | +11.8% | +6.7% | |
| Q4 2022 | +5.2% | +7.7% | +12.4% | |
| Q3 2022 | +1.1% | -2.3% | -12.7% | |
| Q2 2022 | +7.1% | +12.3% | +2.3% | |
| Q1 2022 | +0.2% | +7.4% | +11.1% | |
| Q4 2021 | +5.8% | +12.2% | +1.1% | |
| Q3 2021 | +5.8% | +1.5% | -17.5% | |
| Q2 2021 | -7.0% | -16.3% | -12.3% | |
| Q1 2021 | +5.7% | +3.3% | +6.6% | |
| Q4 2020 | +9.7% | +14.5% | +6.5% | |
| Q3 2020 | -0.7% | +4.9% | +16.3% | |
| Q2 2020 | +3.6% | +6.0% | +28.3% | |
| Q1 2020 | -2.5% | -4.6% | -4.2% | |
| Q4 2019 | -1.1% | +3.0% | +9.1% | |
| Q3 2019 | -13.1% | -11.3% | +20.1% | |
| Q2 2019 | +13.5% | +16.7% | +3.4% | |
| Q1 2019 | +7.9% | +16.5% | +23.4% | |
| Q4 2018 | -20.6% | -22.9% | -19.5% | |
| Q3 2018 | +16.7% | +18.0% | +21.5% | |
| Q2 2018 | -2.9% | -3.5% | +8.0% | |
| Q1 2018 | +3.9% | +5.6% | -28.8% | |
| Q4 2017 | +7.9% | +10.3% | +4.9% | |
| Q3 2017 | -5.7% | -7.5% | -8.6% | |
| Q2 2017 | -1.5% | -3.3% | -4.0% | |
| Q1 2017 | -1.1% | -0.5% | +20.1% | |
| Q4 2016 | -11.7% | -17.7% | -0.3% | |
| Q3 2016 | -9.0% | -1.0% | +5.3% | |
| Q2 2016 | +13.8% | +10.2% | -2.9% | |
| Q1 2016 | +10.2% | — | — | |
| Q4 2015 | -8.8% | — | — | |
| Q3 2015 | -0.9% | — | — | |
| Q2 2015 | -16.6% | — | — | |
| Q1 2015 | +7.1% | — | — | |
| Q4 2014 | +11.2% | — | — | |
| Q3 2014 | -8.1% | — | — | |
| Q2 2014 | +3.1% | — | — | |
| Q1 2014 | +3.2% | — | — | |
| Q4 2013 | -10.5% | — | — | |
| Q3 2013 | +8.7% | — | — | |
| Q2 2013 | +7.4% | — | — | |
| Q1 2013 | -7.0% | — | — | |
| Q4 2012 | -7.0% | — | — | |
| Q3 2012 | -7.6% | — | — | |
| Q2 2012 | +6.9% | — | — | |
| Q4 2009 | +3.1% | — | — | |
| Q4 2010 | +3.1% | — | — | |
| Q4 2011 | +3.1% | — | — | |
| Q3 2011 | -15.4% | — | — | |
| Q2 2011 | -1.2% | — | — | |
| Q1 2011 | -4.2% | — | — | |
| Q3 2010 | -7.8% | — | — | |
| Q2 2010 | -7.8% | — | — | |
| Q1 2010 | -4.0% | — | — |
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