Canadian Solar reports mixed Q4 & FY 2023 results

Canadian Solar Inc. has released its Q4 and FY 2023 financial results. Its Q4 net revenues declined by 8% quarter-on-quarter to USD 1.7 billion, with 8.2 GW of module shipments, 47 MW of which were for internal projects. FY 2023 saw record revenues of USD 7.6 billion, with 30.7 GW of module shipments for CSI Solar. Additionally, a USD 500 million BlackRock investment in Recurrent Energy also positively impacted the financials. For Q1 2024, CSI Solar anticipates shipments of 6.1 GW to 6.4 GW, including 235 MW for internal projects. The company maintains its 2024 outlook with module shipments projected at 42 GW to 47 GW.