I believe true value is from growth, not cigar butts. Time is investors' best friend. Evaluation matters but need to be viewed from a long-term perspective. Great businesses often offer tremendous value to society and are super durable. When your products and services are 10x better than others, you deserve to grow 10x (or people you to grow 10x) and stay dominant. Selection, convenience, and value are tremendous characteristics I am looking for. Durability is a great multiplier of value (I don't buy a cycl ...

Core Insights - Canadian Solar, Inc. (CSIQ) reported a fourth-quarter 2024 loss of $1.47 per share, which is significantly wider than the Zacks Consensus Estimate of a loss of 21 cents per share and a decline from the previous year's earnings of two cents per share [1][2] - The company's total revenues for 2024 were $6.46 billion, down from $7.23 billion in 2023, reflecting a year-over-year decline primarily due to a decrease in the average selling price (ASP) for its modules [3] Financial Performance - In Q4 2024, Canadian Solar's revenues were $1.52 billion, missing the Zacks Consensus Estimate of $1.58 billion by 3.7% and declining 10.6% from $1.70 billion in the same quarter last year [3] - The gross margin for the quarter was reported at 14.3%, which is below the company's guidance of 16-18% and represents a decline of 180 basis points year-over-year due to lower module ASP [4] - Total operating expenses increased by 61.7% year-over-year to $344.1 million, driven by impairment charges and higher shipping and handling costs [4] Operational Metrics - Solar module shipments for the quarter totaled 8.2 gigawatts (GW), aligning with the company's guidance of 8.0-8.5 GW and reflecting a 1% increase year-over-year [4] - Depreciation and amortization charges rose to $135 million from $89 million in the previous year, attributed to vertical integration investments and increased capacity in strategic markets [5] Cash Flow and Debt - As of December 31, 2024, Canadian Solar's cash and cash equivalents stood at $1.70 billion, a decrease from $1.94 billion as of December 31, 2023 [6] - Long-term borrowings increased to $2.49 billion from $1.27 billion over the same period [6] Future Guidance - For Q1 2025, Canadian Solar anticipates total module shipments between 6.4-6.7 GW and total revenues in the range of $1.0-$1.2 billion, which is below the Zacks Consensus Estimate of $1.4 billion [7] - The company expects a gross margin between 9% and 11% for the first quarter of 2025 [7] - For the full year 2025, total module shipments are projected to be between 30-35 GW, with total revenues expected to range from $7.3-$8.3 billion [8][9]

Canadian Solar Inc (NASDAQ:CSIQ) reported fourth-quarter earnings today, posting a steep loss of $1.47 per share -- far wider than the expected $0.03 loss. On the plus side, revenue came in slightly ahead of estimates at $1.67 billion versus $1.64 billion.CSIQ hit a nearly 12-year low of $9.49 on March 13 after a long-term downtrend, exacerbated by tariff uncertainty from the Trump administration. The stock is down 6.4% year-to-date and 43.3% lower on a year-over-year basis. Despite the big earnings miss, h ...

Canadian Solar Inc. (NASDAQ:CSIQ) Q4 2024 Earnings Conference Call March 25, 2025 8:00 AM ET Company Participants Wina Huang - Head, Investor Relations Shawn Qu - Chairman & Chief Executive Officer Yan Zhuang - President, CSI Solar Ismael Guerrero - President, Recurrent Energy Xinbo Zhu - Senior Vice President & Chief Financial Officer Conference Call Participants Colin Rusch - Oppenheimer Praneeth Satish - Wells Fargo Maheep Mandloi - Mizuho Securities Alan Lau - Jefferies Vikram Bagri - Citi Philip Shen - ...

Canadian Solar (CSIQ) came out with a quarterly loss of $1.47 per share versus the Zacks Consensus Estimate of a loss of $0.21. This compares to loss of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -600%. A quarter ago, it was expected that this solar wafers manufacturer would post a loss of $0.44 per share when it actually produced a loss of $0.31, delivering a surprise of 29.55%.Over the last four quarters, the comp ...

Canadian Solar 4Q24 Earnings Call March 25, 2025 Canadian Solar Inc. Safe Harbor Statement This presentation has been prepared by the Company solely to facilitate the understanding of the Company's business model and growth strategy. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the ...

Core Insights - Canadian Solar Inc. reported financial results for Q4 and full year 2024, highlighting challenges in the solar industry due to competition and policy uncertainties, but noted stronger profitability in its modules business compared to the broader market [2][4][10] Financial Performance - Q4 2024 revenue was $1.5 billion, a 1% increase quarter-over-quarter but an 11% decrease year-over-year, primarily due to lower average selling prices of solar modules [4][10] - Gross profit for Q4 2024 was $217 million, with a gross margin of 14.3%, down from 16.4% in Q3 2024 but up from 12.5% in Q4 2023 [5][10] - Net income attributable to shareholders was $34 million, or $0.48 per diluted share, compared to a net loss of $14 million in Q3 2024 [10][11] Business Segments - The company operates through two segments: Recurrent Energy and CSI Solar, with Recurrent Energy focusing on project development and CSI Solar on manufacturing solar modules and energy storage solutions [14][27] - CSI Solar shipped 8.2 GW of solar modules in Q4 2024, with significant shipments to markets including China, the U.S., and Spain [3][27] - Recurrent Energy achieved a record 1.3 GWp of solar projects in commercial operation, despite project sales delays impacting overall performance [6][14] Energy Storage Focus - Energy storage solutions are becoming increasingly important, with a record 2.2 GWh of e-STORAGE shipments in Q4 2024 and a total pipeline of 79 GWh [6][30] - The company reported a contracted backlog of approximately $3.2 billion in energy storage projects, providing visibility into future revenue [30][31] Future Outlook - For Q1 2025, the company expects revenue between $1.0 billion and $1.2 billion, with gross margins projected between 9% and 11% [36][38] - For the full year 2025, total module shipments are expected to be between 30 GW and 35 GW, with total revenue projected between $7.3 billion and $8.3 billion [38][39]

Financial Performance - Canadian Solar Inc. is expected to report quarterly earnings of 11 cents per share for the first quarter, a significant improvement from a loss of 2 cents per share in the same period last year [1] - The company projects quarterly revenue of $1.57 billion, a decrease from $1.7 billion a year earlier [1] Recent Developments - On March 6, Canadian Solar secured Battery Supply Agreements and Long-Term Service Agreements for two major battery energy storage projects in the United States, developed by Aypa Power [2] - Following this announcement, Canadian Solar shares fell by 1.9%, closing at $9.96 [2] Analyst Ratings - Wells Fargo analyst Michael Blum maintained an Equal-Weight rating and reduced the price target from $13 to $10 [5] - GLJ Research analyst Gordon Johnson maintained a Sell rating and increased the price target from $9.1 to $12.28 [5] - UBS analyst Jon Windham maintained a Buy rating but lowered the price target from $38 to $35 [5] - The company has a Momentum score of 12.68 and a Value score of 85.28 according to Edge Stock Ratings [4]

Core Viewpoint - Canadian Solar Inc. has announced a significant partnership through its subsidiary e-STORAGE, signing a Battery Supply Agreement and Long-Term Service Agreement with Strata Clean Energy for a 100 MW / 576 MWh DC Battery Energy Storage System in Arizona, set to begin construction in October 2026 [1][2]. Group 1: Project Details - The White Tank Battery project will provide stored renewable energy to Arizona Public Service (APS), enhancing grid reliability [2]. - e-STORAGE will supply approximately 120 SolBank 3.0 battery enclosures to facilitate the shift of renewable energy production to meet evening demand [3]. - Following commissioning, e-STORAGE will manage the system under a 20-year LTSA, ensuring optimized performance and integration with APS's energy grid [3]. Group 2: Company Background - Canadian Solar is one of the largest solar technology and renewable energy companies globally, having delivered around 142 GW of solar photovoltaic modules since its founding in 2001 [5]. - The company has a contracted backlog of US$3.2 billion as of November 30, 2024, and has developed approximately 11 GWp of solar power projects and 3.7 GWh of battery energy storage projects globally [5]. - e-STORAGE operates two automated manufacturing facilities with an annual battery production capacity of 20 GWh, specializing in utility-scale battery energy storage systems [6]. Group 3: Strategic Importance - The partnership with Strata Clean Energy aligns with Arizona's clean energy goals, showcasing e-STORAGE's commitment to delivering high-performance energy storage solutions [4]. - Strata Clean Energy has extensive experience with over 180 projects in operation and focuses on delivering high-quality projects while maximizing cost-competitiveness [8].

Core Insights - Recurrent Energy has secured project financing and tax equity for the Fort Duncan Storage project, a 200 MWh energy storage facility in Texas, expected to be operational by Summer 2025 to meet ERCOT's peak power demand [1][2] Financing Details - The total financing for the project amounts to $112 million, which includes a construction and term loan, a tax equity bridge loan, and a letter of credit facility, led by Nord/LB [2] - Recurrent Energy has also entered into a $71 million tax equity partnership with Greenprint Capital [2] Project Impact - The Fort Duncan Storage project will enhance the reliability and resilience of the Texas grid, supporting economic growth and increasing demand for energy [3] - The project will operate on a merchant basis, capable of serving up to 66,100 households during a two-hour power dispatch cycle [3] Employment and Construction - The construction of Fort Duncan Storage is being carried out by Burns & McDonnell, employing 75 workers at peak construction [4] Company Background - Recurrent Energy, a subsidiary of Canadian Solar Inc., is a leading developer and operator of solar and energy storage projects, with a project development pipeline of over 27 GWp of solar and 68 GWh of energy storage capacity [5] - Canadian Solar Inc. is recognized as one of the largest solar technology companies globally, having delivered around 142 GW of solar photovoltaic modules and developed approximately 11 GWp of solar projects and 3.7 GWh of energy storage projects [8]