Canadian Solar reports higher storage sales and steady module shipments

Canadian Solar, a Canada-based solar manufacturer and project developer, has reported its fourth-quarter 2024 financial results. The company posted $1.5 billion in revenue and 8.2 GW in module shipments, including 401 MW supplied to its own utility-scale projects. Gross profit was $217 million, with a gross margin of 14.3%. Revenue rose 1% from the previous quarter to $1.5 billion, while gross profit was $217 million, dropped 12% quarter-over-quarter. The company attributed the sequential revenue growth to stronger battery storage and project sales. For the Q1 2025, CSI expects its revenue between $1.0 billion and $1.2 billion and a gross margin of 9% to 11%. Projected module shipments are forecasted between 6.4 GW and 6.7 GW, including 400 MW allocated to CSI’s own solar projects.