Investors were spooked not only by declines in key fundamentals, but also a major miss on the bottom line.The late summer sun might be shining in many parts of the world, but it wasn't illuminating Canadian Solar (CSIQ -15.69%) stock in the past few days. After the company published a fresh set of quarterly results, many investors headed for the exit doors. As a result, according to data compiled by S&P Global Market Intelligence, Canadian Solar's share price was down by nearly 17% week to date as of early ...

Financial Data and Key Metrics Changes - In Q2 2024, Canadian Solar shipped 8.2 gigawatts of solar modules, exceeding previous guidance of 7.5 to 8 gigawatts, resulting in revenue of $1.6 billion and a gross margin of 17.2% [8][27] - Total operating expenses increased to $434 million, primarily due to higher shipping and handling expenses [27] - Net income was $27 million, with net income attributable to Canadian Solar at $4 million, or $0.02 per diluted share [28] Business Line Data and Key Metrics Changes - CSI Solar shipped 8.2 gigawatts of modules, achieving revenue of $1.7 billion and a gross margin of 16.7%, with North America accounting for approximately 30% of shipments [14] - The e-STORAGE business delivered approximately 1.5 gigawatt hours globally, with a backlog of $2.6 billion [18] - Recurrent Energy generated $50 million in revenue with a gross margin of 47.4%, experiencing delays in project sales due to policy changes in Europe [21] Market Data and Key Metrics Changes - The U.S. market remains strong, with higher volumes delivered at competitive prices, while average selling prices in other regions remain challenging [14][16] - The company anticipates a significant increase in e-STORAGE shipments, with a total project pipeline of approximately 66 gigawatt hours [19] Company Strategy and Development Direction - Canadian Solar is focusing on sustainable growth through its energy storage segment, which is expected to grow by more than 500% this year [10] - The company is strategically balancing vertical integration and capacity investments to adapt to market dynamics [10] - The project development platform, Recurrent Energy, is transitioning to a global developer, owner, and operator of solar and storage assets [11] Management's Comments on Operating Environment and Future Outlook - Management noted that while the solar industry faces challenges, the underlying fundamentals remain robust, with significant demand expected from emerging technologies [9] - The company expects continued pressure on module margins in the second half of the year but anticipates strong performance from the e-STORAGE business [33][54] - Management expressed confidence in the long-term growth potential of both the solar and energy storage markets [10][54] Other Important Information - Canadian Solar achieved significant reductions in greenhouse gas emissions, energy consumption, water usage, and waste intensity compared to 2017 levels [12] - The company is committed to ethical labor practices and diversity, equity, and inclusion within its workforce [12] Q&A Session Summary Question: Trends in sales and distribution costs due to new AD/CVD charters - Management indicated that it is difficult to speculate on the impact of the new AD/CVD case until preliminary rulings are made [37] Question: Dynamics of the distribution business amidst market disruptions - The distribution business remains strong, with expectations of more than half of the volume going to the DG market, including residential and CNI rooftops [41] Question: Drivers behind the 2024 shipment reduction - The reduction was not primarily due to the new AD/CVD case but rather other market factors [44] Question: Potential IPO timeline for Recurrent Energy and plans for e-STORAGE - Management indicated that while a partial IPP model is being pursued, no specific timeline for an IPO has been established [47] Question: Insights into U.S. module pricing and impacts of imports - Management noted healthy margins in the U.S. and an upward trend in pricing, despite complexities introduced by AD/CVD [61] Question: Expectations for module margins and market balance - Management expects continued pressure on module margins but confidence in the e-STORAGE business's performance [52][54]

In value analysis, though price-to-earnings (P/E) and price-to-sales (P/S) ratios are most preferred by investors, the underrated price-to-book ratio (P/B ratio) is also an easy-to-use valuation tool for identifying low-priced stocks with exceptional returns. The ratio is used to compare a stock’s market value/price to its book value.The P/B ratio is calculated as below:P/B ratio = market price per share/book value of equity per shareP/B ratio reflects how many times book value investors are ready to pay fo ...

Exhibit 99.1 Canadian Solar Reports First Quarter 2024 Results and Announces Appointment of Chief Financial Officer Guelph, Ontario, May 9, 2024 – Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) today announced financial results for the first quarter ended March 31, 2024. Highlights · Solar module shipments of 6.3 GW, in line with guidance of 6.1 GW to 6.4 GW. · Net revenues of $1.3 billion, in line with guidance of $1.2 billion to $1.4 billion. · 19.0% gross margin, at the high end o ...

Canadian Solar (CSIQ) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to earnings of $2.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 300%. A quarter ago, it was expected that this solar wafers manufacturer would post a loss of $0.34 per share when it actually produced earnings of $0.19, delivering a surprise of 155.88%.Over the last fou ...

Canadian Solar 2Q24 Earnings Call August 22, 2024 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 ...

GUELPH, ON, Aug. 22, 2024 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ) today announced financial results for the second quarter ended June 30, 2024.HighlightsSolar module shipments of 8.2 GW, above guidance of 7.5 GW to 8.0 GW.Net revenues of $1.6 billion, in line with guidance of $1.5 billion to $1.7 billion.17.2% gross margin, in line with guidance of 16% to 18%.e-STORAGE backlog grew to $2.6 billion, backed by a record 66 GWh of pipeline, as of June 30, 2024.Recu ...

Investors interested in Solar stocks are likely familiar with Canadian Solar (CSIQ) and Enphase Energy (ENPH) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with posi ...

From traditional energy sources like natural gas and oil to newer alternatives like hydrogen and solar, the energy sector has evolved massively over the years. Yet, there is something unchanged — energy is still at the core of our daily lives. Without energy, barely anything could function. It plays a critical role in every method of transportation possible, from millions of vehicles on the road to planes used for domestic and international travel. The energy sector depends largely on government policies, t ...

GUELPH, ON, Aug. 7, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that e-STORAGE, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. ("CSI Solar"), has been awarded a turnkey EPC contract for 100 MW / 200 MWh energy storage solutions by Fotowatio Renewable Ventures (FRV) Australia for its Terang energy storage project in Victoria, Australia. FRV Australia, part of Jameel Energy and the Canadian infrastructure fund OMERS, ...