Canadian Solar Pins Q4 Miss On Prolonged Sector Downturn, Regulatory Headwinds — CSIQ Stock Tumbles Over 20% Pre-Market

• Canadian Solar stated that its solar module shipments during Q4 nearly halved to 4.3 gigawatts, down 16% sequentially.
• The company added that its revenue during the quarter was down primarily due to lower sales of its solar modules and battery energy storage systems.
• Canadian Solar guided for first-quarter revenue in the $900 million to $1.1 billion range, while the Wall Street consensus is for revenue of $1.51 billion.

Canadian Solar Inc. (CSIQ) on Thursday reported fourth-quarter results that missed Wall Street expectations, citing a prolonged sector downturn.

The Ontario-based company reported a loss of $1.66 per share on revenue of $1.26 billion during the fourth quarter (Q4), while Wall Street expected a loss of $0.42 per share on revenue of $1.37 billion, according to Fiscal.ai data.

Canadian Solar shares declined nearly 24% in Thursday’s pre-market trade. Retail sentiment on Stocktwits around the company was in the ‘bearish’ territory at the time of writing.

Solar Module Shipments Nearly Halve Year-On-Year

Canadian Solar stated that its solar module shipments during Q4 nearly halved to 4.3 gigawatts, down 16% sequentially.

The company added that its revenue during the quarter was down primarily due to lower sales of its solar modules and battery energy storage systems.

“In response to the prolonged solar downturn, we pivoted away from the industry's traditional focus on shipment volumes and instead took the lead by prioritizing margins and diversifying our profit drivers, notably energy storage,” said Canadian Solar CEO Shawn Qu.

Qu also highlighted persistent market headwinds and a shifting regulatory landscape as factors behind the sales decline. Despite this, he stated that the company remains steadfastly committed to the U.S. market, citing its efforts to reshore manufacturing to North America.

To this end, Qu stated that Canadian Solar has fully ramped up its solar module factory in Texas and intends to double its capacity. Canadian Solar has begun moving equipment as part of the first phase of its solar cell plant in Indiana, and expects to manufacture its first cell by the end of this month, he added.

“Furthermore, we are advancing the second phase, which once operational, will bring our U.S. cell capacity to 6.3 GWp, establishing the largest crystalline silicon technology footprint in the country,” Qu stated.

Canadian Solar guided for first-quarter revenue in the $900 million to $1.1 billion range, while the Wall Street consensus is for revenue of $1.51 billion.

Solar Installations Decline In 2025 Due To Trump's Policy Changes

According to a Reuters report citing data from the Solar Energy Industries Association (SEIA) and Wood Mackenzie, solar installations in the U.S. declined in 2025 due to the Trump administration’s regulatory changes.

The study showed that new solar installations in 2025 totaled 43 GW, down from 50 GW in 2024. The report added that, due to President Donald Trump’s One Big Beautiful Bill Act, community solar installations fell by 25% in 2025, while utility-scale installations declined by 16%.

How Did Stocktwits Users React?

One bearish user on the platform opined that the company currently has too many problems.

Another user believes that the CSIQ stock should decline further, following the Q4 results.

CSIQ stock is down 22% year-to-date, but up 89% over the past 12 months. The Invesco Solar ETF (TAN) is up 72% over the past 12 months, while the iShares Global Clean Energy ETF (ICLN) is up 56%.

Also See: Iran Reportedly Mulls Transit Fees In Strait Of Hormuz, Targeting A Fifth Of Global Energy Flow As Crude Oil Surges

For updates and corrections, email newsroom[at]stocktwits[dot]com.