Canadian Solar Reports Q2 Revenue of $1.2 Billion Amid Net Loss
Canadian Solar Inc. (NASDAQ:CSIQ) reported second-quarter revenue of $1.2 billion, reaching the high end of its guidance range due to strong U.S. module shipments and accelerated energy-storage deliveries. Despite this performance, the company posted a net loss of $77 million driven by elevated freight costs and ramp-up expenses at its Jeffersonville solar-cell facility in Indiana. The firm is expanding its U.S. manufacturing capabilities with Phase 1 of the Jeffersonville plant expected to reach full production on October 1, contributing to an anticipated total cell capacity of 6.3 gigawatts by 2027. Canadian Solar also highlighted a robust backlog for HJT and TOPCon modules valued at over $4.5 billion through 2029. Energy-storage demand remains strong with e-STORAGE backlog reaching $3.5 billion, driven in part by growing power needs from data centers.
Topics: manufacturing_expansion net_loss revenue storage_backlog