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Sep 30, 2025
Canadian Solar Q3 2025 Earnings Report
Canadian Solar reported Q3 2025 results with revenue at the top end of guidance and improved gross margins, driven by record energy storage shipments.
Key Takeaways
Canadian Solar achieved $1.5 billion in revenue in Q3 2025, supported by strong energy storage performance and a favorable product mix. Net income turned positive despite ongoing adjusted losses, and the company saw record quarterly energy storage shipments.
Revenue by Segment
Forward Guidance
Canadian Solar expects Q4 2025 revenue between $1.3 billion and $1.5 billion, with continued momentum in energy storage and stable module shipments.
Positive Outlook
- Energy storage demand remains strong with contracted backlog visibility.
- Residential energy storage expected to become profitable in 2025.
- New U.S.-based solar and battery manufacturing lines on track to begin production in 2026.
- High-margin markets like North America continue to drive profitability.
- Focus on strategic investments and financial discipline.
Challenges Ahead
- Solar module shipments declined 35% QoQ.
- Adjusted net loss widened to $26 million.
- Cash used in operating activities totaled $112 million.
- Revenue slightly declined YoY despite storage growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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