Key Highlights

  • Canadian Solar (NASDAQ:CSIQ) reported second-quarter 2026 Revenue of USD 1.21 billion, down 29% from a year earlier, with a net loss attributable to the company of USD 76.9 million, or USD 1.40 per share.
  • Gross Margin fell to 13.9% in the second quarter from 25.1% in the first quarter of 2026 and 29.8% in the second quarter of 2025, according to the company release.
  • Third-quarter guidance calls for revenue of USD 1.3 billion to 1.5 billion, gross margin of 13.5% to 15.5%, module shipments of 3.5 to 3.8 GW and storage shipments of 3.4 to 3.8 GWh.
  • Published market data showed CSIQ at USD 11.09, up 9.80%, with a 1 year EPS change of 771.10%; the snapshot date is unknown and both figures are unverified.

Second-Quarter Loss and a Sharp Margin Squeeze

Canadian Solar (NASDAQ:CSIQ) makes solar modules and battery energy storage systems and develops solar and storage projects. Its second-quarter 2026 report, released in late August, showed revenue of USD 1.21 billion, up 12% from the first quarter but down 29% from a year earlier. The company shipped 3.1 GW of solar modules and 3.7 GWh of battery energy storage. Gross margin of 13.9% compared with 29.8% a year earlier, a steep decline. The net loss attributable to the company was USD 76.9 million.

Debt, Cash and the Read-Across From the China Subsidiary

The Balance Sheet carries heavy obligations. Total debt, including financing liabilities, was USD 7.1 billion at June 30, 2026, up from USD 6.8 billion at March 31, against cash and equivalents of USD 1.46 billion, or about USD 1.85 billion with restricted cash. On October 30, 2026, its Shanghai-listed Subsidiary CSI Solar reported third-quarter revenue of RMB 5.86 billion, down 42.63%, and a net loss attributable to shareholders of RMB 394.9 million. That subsidiary release cited intensifying competition and falling product prices. It is a read-across only, since Canadian Solar's own third-quarter report date for 2026 was not confirmed; last year's call was held on November 13.

Why the Growth Label Needs Context and What Comes Next

The 1 year EPS change of 771.10% could not be matched to any filing. The latest reported quarterly figure was a loss of USD 1.40 per share, and the prior-year quarter's figure appeared inconsistent in the release table, so the figure most likely reflects a tiny or negative base, possibly on a different period or basis. It should not be read as Earnings strength. The 9.80% price gain is likewise unverified. Next, investors can compare actual third-quarter results with the guided margin range of 13.5% to 15.5% and watch whether storage shipments, guided at 3.4 to 3.8 GWh, offset weaker module pricing.

Where Things Stand

Canadian Solar's published 9.80% gain is not explained by its filings, which show a second-quarter loss and a gross margin of 13.9% that had roughly halved from a year earlier. The move could reflect a rebound from low levels or expectations around storage growth, but neither could be confirmed. The company's guidance implies a margin that stays in the mid-teens in the third quarter, and its subsidiary has already reported a quarterly loss. Until the parent reports, the evidence supports caution about reading the screener's 771.10% EPS figure as fast earnings growth.