Canadian Solar Inc. (NASDAQ:CSIQ) shares are trading lower Thursday after the company reported worse-than-expected fourth-quarter revenue results and issued first-quarter revenue guidance below estimates

Q4 Results

Canadian Solar reported a loss of $1.66 per share and revenue of $1.21 billion, missing the consensus estimate of $1.35 billion. Revenue declined 18% sequentially and 20% year-over-year, primarily due to lower sales of solar modules and battery energy storage systems.

For the full-year, Canadian Solar delivered 24.3 GW of solar module shipments globally, including a record 8.1 GW to the U.S. market, alongside record energy storage shipments of 7.8 GWh, with 3.9 GWh delivered to the U.S.

Energy storage contracted backlog increased to a record $3.6 billion as of March 13, 2026.

CEO Shawn Qu said the company "pivoted away from the industry’s traditional focus on shipment volumes" and instead prioritized margins and diversified profit drivers.

Total debt stood at $6.5 billion as of Dec. 31.

The company sees first-quarter revenue of $900.00 million to $1.10 billion, versus the consensus estimate of $1.56 billion.

Canadian Solar Stock Falls

CSIQ Price Action: At the time of writing, Canadian Solar shares are trading 23.27% lower at $14.21, according to data from Benzinga Pro.

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