Canadian Solar Reports Q2 2026 Earnings with Revenue of $1.2 Billion Amid Operational Challenges
Canadian Solar (CSIQ) reported second-quarter revenue of $1.2 billion for the period ending in August 2026, reaching the high end of its guidance despite a 29% year-over-year decline due to reduced solar module and project sales. The company recorded a GAAP net loss of $77 million, attributed to higher freight costs and expenses from expanding manufacturing facilities. Gross margin dropped significantly to 13.9%, down from 29.8% in the prior year period, primarily because of the absence of a one-time tariff refund. Module shipments rose by 25% quarter-over-quarter to 3.1 gigawatts, while battery storage shipments exceeded guidance at 3.7 gigawatt hours due to accelerated deliveries in North America. The company's CS PowerTech backlog stands at over $4.5 billion with contracted delivery schedules through 2029. Recurrent Energy reported revenue of $117 million but saw a sequential decline as several projects were deferred into the second half of 2026.
Tickers: $CSIQ
Topics: battery_storage gross_margin module_shipments net_loss revenue