智通财经网·2025-05-15 11:27Core Insights - The company reported a 9.8% year-over-year decline in revenue for Q1 2025, totaling $1.2 billion, which was $100 million above market expectations. However, the non-GAAP EPS loss of $1.07 fell short of market forecasts [1] - Following the earnings announcement, the company's stock price increased by 4.35% in pre-market trading [1] Revenue and Shipment Performance - For Q1 2025, the company experienced a 21.3% quarter-over-quarter and 9.8% year-over-year decline in revenue, primarily due to decreased sales of battery storage systems and solar modules [1] - The total shipment of components recognized as revenue was 6.9 GW, reflecting a 16.0% quarter-over-quarter decline but a 9.4% year-over-year increase, exceeding expectations [1] - Of the total shipments, 413 MW were delivered to the company's own utility-scale solar projects [1] Future Guidance - The company anticipates total revenue for Q2 2025 to be between $1.9 billion and $2.1 billion, surpassing the market expectation of $1.76 billion. The gross margin is expected to range from 23% to 25% [1] - The total shipment of components recognized as revenue for Q2 2025 is projected to be between 7.5 GW and 8.0 GW, including approximately 500 MW for the company's own projects [1] - The company expects total battery storage shipments for Q2 2025 to be between 2.4 GWh and 2.6 GWh [1] Annual Projections - For the full year of 2025, the company forecasts total revenue between $6.1 billion and $7.1 billion, compared to market expectations of $7.04 billion [2] - The total component shipment for CSI Solar is expected to be between 25 GW and 30 GW, including about 1 GW for the company's projects [2] - The company projects total battery storage shipments for the year to be between 7 GWh and 9 GWh, including approximately 1 GWh for its own projects [2]