(RTTNews) – Canadian Solar Inc. (CSIQ), a solar and energy storage solutions provider, on Thursday posted a drop in revenue for the second quarter of fiscal 2026, hurt by decreased sales of solar modules.
For the three-month period to June 30, the company posted net loss of $76.859 million, compared with net profit of $7.197 million in the same period last year. Net loss per share was $1.40 as against the prior year’s loss of $0.08 per share. Operating loss stood at $71.059 million as against profit of $127.433 million in the previous year.
Total solar module shipments recognized as revenue were 3.1 GW, down 60% from last year. Total battery energy storage shipments recognized as revenue stood at 3.7 GWh, up 73% from the previous year.
Net revenue was $1.207 billion, down from last year’s $1.693 billion. The decrease reflects a steep decline in solar module and project sales. Revenue from solar modules plunged to $589.377 million from last year’s $1.022 billion.
Looking ahead, Colin Parkin, CEO of Canadian Solar, said: “We expect margins in the third quarter to remain stable, as we continue to scale our integrated U.S. solar manufacturing strategy, though ramp-up costs associated with our solar cell facility in Jeffersonville, Indiana, will weigh on profitability for the remainder of the year. We anticipate the cadence of U.S. solar and storage shipments to accelerate in the second half, with each quarter of 2026 delivering larger volumes…”
For the third quarter, the company anticipates total revenue of $1.3 billion to $1.5 billion. For the third quarter, Canadian Solar projects total module shipments recognized as revenue to be in the range of 3.5 GW to 3.8 GW. Total battery energy storage shipments are expected to be in the range of 3.4 GWh to 3.8 GWh.
CSIQ was down by 4.97% at $13.18 in the pre-market trade on the Nasdaq.
