Canadian Solar Q4 Loss Wider Than Expected, Revenues Fall Y/Y

Canadian Solar, Inc. CSIQ reported a fourth-quarter 2024 loss of $1.47 per share, wider than the Zacks Consensus Estimate of a loss of 21 cents per share. The figure also deteriorated from the year-ago quarter’s earnings of two cents per share.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.CSIQ reported a 2024 loss of $1.45 per share against the year-ago earnings of $3.87.CSIQ’s RevenuesCanadian Solar reported revenues of $1.52 billion, which lagged the Zacks Consensus Estimate of $1.58 billion by 3.7%. The top line also declined 10.6% from the year-ago quarter’s figure of $1.70 billion.This year-over-year decrease was primarily due to a decline in the average selling price (ASP) for CSIQ’s modules.The company reported revenues of $6.46 billion in 2024, which were lower than $7.23 billion in 2023.Canadian Solar Inc. Price, Consensus and EPS Surprise Canadian Solar Inc. price-consensus-eps-surprise-chart | Canadian Solar Inc. QuoteOperational Update of CSIQSolar module shipments in the quarter totaled 8.2 gigawatts (GW), in line with the company’s guidance of 8.0-8.5 GW. The metric also rose 1% year over year.Canadian Solar’s gross margin was 14.3%, which was much lower than its guided range of 16-18%. The gross margin declined 180 basis points year over year due to a lower module ASP.Total operating expenses were $344.1 million, up 61.7% year over year due to the impairment charges and higher shipping and handling expenses.Depreciation and amortization charges totaled $135 million, up from $89 million recorded in the year-ago period. The increase was due to Canadian Solar's vertical integration investments over the past two years and incremental capacity in key strategic markets.Canadian Solar’s Financial UpdateAs of Dec. 31, 2024, Canadian Solar’s cash and cash equivalents totaled $1.70 billion, down from $1.94 billion as of Dec. 31, 2023.Long-term borrowings as of Dec. 31, 2024, were $2.49 billion, up from $1.27 billion as of Dec. 31, 2023.CSIQ’s 2025 GuidanceFor the first quarter of 2025, Canadian Solar expects total module shipments to be in the range of 6.4-6.7 GW, including approximately 400 MW of module shipments for its projects.Total revenues are expected to be in the band of $1.0-$1.2 billion. The Zacks Consensus Estimate for first-quarter sales is pegged at $1.4 billion, higher than the company’s guided range.The company expects the gross margin to be between 9% and 11%.Total battery energy storage shipments in the first quarter are expected to be around 800 megawatt-hours.For full-year 2025, the company still expects total module shipments to be in the range of 30-35 GW, including nearly one GW to its projects. It anticipates total battery energy storage shipments to be in the band of 11-13 GWh.Total revenues are expected to be in the band of $7.3-$8.3 billion. The Zacks Consensus Estimate for 2025 sales is pegged at $7.34 billion, which lies near the lower end of the company’s guided range.CSIQ’s Zacks RankCanadian Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Q4 Solar ReleasesEnphase Energy, Inc. ENPH reported fourth-quarter 2024 adjusted earnings of 94 cents per share, which surpassed the Zacks Consensus Estimate of 75 cents by 25.3%. The company’s revenues of $382.7 million beat the consensus estimate of $376 million by 1.8%.SolarEdge Technologies, Inc. SEDG reported a fourth-quarter 2024 adjusted loss of $3.52 per share, wider than the Zacks Consensus Estimate. The company’s revenues of $196.2 million surpassed the consensus estimate by 5.3%.First Solar, Inc. FSLR reported fourth-quarter 2024 earnings of $3.65 per share, which missed the Zacks Consensus Estimate of $4.64 by 21.3%. The company’s net sales of $1.51 billion surpassed the consensus estimate of $1.47 billion by 3%.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis Report Canadian Solar Inc. (CSIQ): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks