Canadian Solar posts Q2 2026 revenue of $1.2 billion, $77 million loss

Canadian Solar (NASDAQ: CSIQ ) reported second-quarter financial results on Thursday.

The transcript from the company's second-quarter earnings call has been provided below.

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For comprehensive financial data and transcripts, visit View the webcast at Summary Canadian Solar recognized revenue on 3.1 gigawatts of solar modules and 3.3 gigawatt-hours of energy storage, generating $1.2 billion in revenue with a gross margin of 13.9%, despite a net loss of $77 million due to high freight costs and ramp-up expenses.

The company opened a new HJT solar cell facility in the U.S., aiming to expand capacity to 6.3 gigawatt peak by 2027, supported by strong demand and a 13 gigawatt peak contracted backlog valued at over $4.5 billion.

Energy storage shipments reached 3.7 gigawatt-hours, with significant contracts secured, including a project with a major U.S. utility.

The total energy storage backlog stands at $3.5 billion.

Recurrent Energy, Canadian Solar's project development business, faced revenue delays but achieved operational milestones, including a new solar asset in Spain and project financing in California.

The company is actively investing in U.S. manufacturing, expecting capital expenditures to reach $1.3 billion in 2026, and aims to leverage new U.S. policies favoring domestic production.

Future guidance includes third-quarter revenue expectations between $1.3 and $1.5 billion, with increased module and storage shipments anticipated.

Management expressed confidence in the long-term positive impact of U.S. policy changes on domestic manufacturing and overall business strategy.

Full Transcript OPERATOR (Melissa) Ladies and gentlemen, thank you for standing by and welcome to Canadian Solar's second quarter 2026 earnings conference call.

My name is Melissa and I will be your operator for today.

At this time, all participants are in a listen-only mode.

Later we will conduct a question-and-answer session.

As a reminder, this conference is being recorded for replay purposes.

I'd now like to turn the call over to Winna Wang, Head of Investor Relations at Canadian Solar.

Please go ahead.

Winna Wang, Head of Investor Relations Thank you, operator, and welcome everyone to Canadian Solar's second quarter 2026 conference call.

Please note that today's conference call is accompanied by slides which are available on Canadian Solar's Investor Relations website within the Events and Presentation section.

Joining us today are Colin Parkin, CEO; Dylan Marks, CEO of Canadian Solar subsidiary Recurrent Energy; Dimbo Zhu, Senior VP & CFO; and Dr.

Sean Hsu, Executive Chairman and CTO.

All company executives will participate in the Q and A session.

After management's formal remarks on this call, Colin will deliver key messages for the quarter.

Dylan will share updates for Recurrent Energy.

Shinbo will go through the financial results and Sean will discuss sustainability and technology highlights.

Colin will conclude the prepared remarks with the business outlook, after which we will have time for questions.

Before we begin, I would like to remind listeners that management's prepared remarks today, as well as their answers to questions, will contain certain forward-looking statements that are subject to risks and uncertainties.

The company claims protection under the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995.

Actual results may differ from management's current expectations.

Any projections of the company's future performance represent management's estimates as of today.

Canadian Solar assumes no obligation to update these projections in the future unless otherwise required by applicable law.

A more detailed discussion of risks and uncertainties can be found in the company's Annual Report on Form 20-F filed with the Securities and Exchange Commission.

Management's prepared remarks will be presented within the requirements of SEC regulation regarding Generally Accepted Accounting Principles, or GAAP.

Some financial information presented during the call will be provided on both a GAAP and non-GAAP basis.

By disclosing certain non-GAAP information, management intends to provide investors with additional information to enable further analysis of the company's performance and underlying trends.