CSI Solar Co., Ltd. CECEP Solar Energy (CSIQ.US) Q4 revenue decreased by 11% year-on-year, while component shipments increased by 1% year-on-year.

CSI Solar Co., Ltd. CECEP Solar Energy (CSIQ.US) announced its performance for the fourth quarter of 2024. The financial report shows that the company's net revenue for Q4 was $1.5 billion, a decrease of 11% compared to the same period last year. The company's net profit attributable to the company was $34 million, compared to a net loss of $1 million in the same period last year. Diluted earnings per share were $0.48, compared to a loss of $0.02 per share in the same period last year. Gross profit was $217 million, a 2% increase compared to the previous year. The gross profit margin was 14.3%, up from 12.5% in the same period last year. The total component shipments confirmed as revenue for the fourth quarter were 8.2 GW, an increase of 1% compared to the previous year. The fourth quarter e-STORAGE single-quarter shipments reached a record high of 2.2 GWh; as of December 31, 2024, the e-STORAGE pipeline business has expanded to a record 79 GWh, including $3.2 billion in signed contracts. For the full year, CSI Solar CECEP Solar Energy's component shipments reached 31.1 GW, and energy storage shipments were 6.6 GWh, an increase of over 500%. Recurrent Energy 1.3 GWp CECEP Solar Energy projects have commenced commercial operations, setting a historic record. Looking ahead, the company expects total revenue for the first quarter of 2025 to be between $1 billion and $1.2 billion, with a gross margin between 9% and 11%. CSI Solar confirms that the total component shipments confirmed as revenue are expected to be between 6.4 GW and 6.7 GW, including approximately 400 MW from the company's own projects. The company's battery storage total shipments are expected to be around 800 MWh, including approximately 150 MWh from the company's own projects. For the full year 2025, the company reiterates its forecast for total component shipments for CSI Solar to be between 30 GW and 35 GW, including approximately 1 GW from the company's projects. CSI Solar's battery storage shipments are expected to be between 11 GWh and 13 GWh, including 1 GWh for the company's own projects. Revenue is expected to be between $7.3 billion and $8.3 billion.