Canadian Solar Posts $1.40 Q2 Loss, Guides Q3 Revenue to $1.3B-$1.5B
CSIQ sits 53% above its 52-week low of $9.41.
Summary
Canadian Solar reported a Q2 2026 net loss of $1.40 per share on revenue of $1.2 billion, with gross margin down sharply to 13.9%. The company guided Q3 revenue to $1.3-$1.5 billion and reiterated 2026 U.S. shipment targets.
Key Events · Earnings and Guidance · CSIQ
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Q2 Net Loss of $1.40 Per Share
Net loss attributable to shareholders was $77 million, or $1.40 per share, versus net income of $7 million ($0.08 loss per share) in Q2 2025. Revenue fell 29% year-over-year to $1.2 billion.
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Gross Margin Collapses to 13.9%
Gross margin fell to 13.9% from 29.8% a year earlier, primarily due to the absence of IEEPA tariff refund benefits recognized in Q1 2026 and the release of unrealized profit on a U.S. project sale-type lease in Q2 2025.
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Q3 Guidance: $1.3B-$1.5B Revenue
Management expects Q3 2026 revenue of $1.3-$1.5 billion, gross margin of 13.5%-15.5%, module shipments of 3.5-3.8 GW, and storage shipments of 3.4-3.8 GWh. Full-year 2026 U.S. guidance of 6.5-7.0 GW modules and 4.5-5.5 GWh storage was reiterated.
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Operating Cash Burn of $181 Million
Net cash used in operating activities was $181 million in Q2 2026, driven by working capital changes, versus $189 million provided by operations in Q2 2025. Total debt rose to $7.1 billion from $6.8 billion at March 31, 2026.
Analysis · CSIQ · Manufacturing
A $77 million net loss attributable to shareholders, or $1.40 per share, marked a sharp reversal from the $7 million profit a year earlier. Gross margin collapsed to 13.9% from 29.8% year-over-year, driven by the absence of IEEPA tariff refund benefits and normalized energy storage margins. The company burned $181 million in operating cash flow during the quarter. Against that backdrop, management guided Q3 revenue to $1.3-$1.5 billion with gross margin of 13.5%-15.5%, and reiterated full-year U.S. shipment targets of 6.5-7.0 GW of modules and 4.5-5.5 GWh of storage. The $3.5 billion e-STORAGE contracted backlog and 21.7 GWp solar pipeline provide multi-year visibility, but near-term profitability remains under pressure from Jeffersonville ramp-up costs and delayed Recurrent Energy project sales.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, CSIQ was trading at $14.38 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $969.6M. The 52-week trading range was $9.41 to $34.59. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.