Canadian Solar revenue reaches $1.2 billion

• Canadian Solar reported Q2 2026 revenue of $1.2 billion, up 12% from the previous quarter.
• Battery energy storage shipments increased 73% year over year to 3.7 GWh.
• The company expects Q3 2026 revenue of $1.3–$1.5 billion and continues expanding U.S. manufacturing capacity.

Canadian Solar (NASDAQ:CSIQ) reported second quarter 2026 net revenue of $1.2 billion, up 12% from the previous quarter but down 29% year over year, while battery energy storage shipments increased to 3.7 GWh.

The results compared with the prior-year period when solar module shipments recognized as revenue were higher, while Q2 2026 module shipments declined 60% year over year to 3.1 GW despite increasing 25% from the previous quarter.

The company reported a GAAP net loss attributable to shareholders of $77 million, or $1.40 per share, while operating cash flow was an outflow of $181 million and total debt increased to $7.1 billion mainly due to new non-recourse project financing.

Following the announcement, Canadian Solar's share price was not provided in the available earnings release.

Canadian Solar continued expanding its U.S. manufacturing operations by opening Phase I of its 2.1 GWp heterojunction technology solar cell plant in Indiana and expanding its Texas module factory toward 10 GWp capacity.

The company reported a $3.5 billion e-STORAGE contracted backlog, along with solar and storage development pipelines of 21.7 GWp and 84.1 GWh, respectively, and guided Q3 2026 revenue of $1.3–$1.5 billion with gross margin of 13.5%–15.5%.