CSIQ: Revenue at $1.2B, strong U.S. demand, but net loss of $77M amid higher costs and ramp-up

Canadian Solar reported a 60% YoY decline in Q2 2026 PV module shipments to 3.1GW, but a 25% QoQ increase. The company expects Q3 shipments to rise to 3.5-3.8GW. It is expanding US manufacturing capacity, with Texas module plant growing to 10GWp and Indiana cell facility to 6.3GWp. Revenue rose 12% QoQ to $1.2B but fell 29% YoY. Gross profit declined to $168M, while operating expenses increased to $240M. The solar project pipeline stands at 21.7GWp, with storage shipments up 82% QoQ to 3.7GWh.

Canadian Solar (CSIQ) won a U.S. federal patent lawsuit against Maxeon Solar, with all claims ruled invalid. The company's share price has fallen 42.74% year-to-date but rose 8.99% in the past month. Analysts suggest CSIQ is undervalued at $14.55, with a fair value estimate of $18.05, driven by projections of improving margins and storage revenue.

Canadian Solar announced that a US court dismissed Maxeon Solar's patent infringement lawsuit 'without prejudice', resolving the dispute in its favor. The US Court of Appeals also vacated a related PTAB decision. Canadian Solar's CEO welcomed the resolution, affirming the company's technological and manufacturing leadership.

Canadian Solar (CSIQ) won a patent dispute against Maxeon Solar in the U.S. A federal court dismissed Maxeon's lawsuit, and the U.S. Court of Appeals vacated part of a PTAB decision. Canadian Solar claims the ruling confirms its non-infringement and strengthens its IP position. The company plans to continue defending its intellectual property.

Canadian Solar (NASDAQ: CSIQ) said the remaining U.S. patent case brought by Maxeon Solar Pte. Ltd. over three TOPCon-related patents has been resolved in its favor. Maxeon’s federal court infringement suit was dismissed with prejudice, and the Federal Circuit vacated part of a PTAB decision. PTAB had ruled in Canadian Solar’s favor in January 2026.

Recurrent Energy, a subsidiary of Canadian Solar (NASDAQ: CSIQ), closed $695 million in project financing and tax equity for the Cobalt Solar facility, a 330 MW project in Riverside County, California. The company said construction is underway with expected commercial operation by end-2027. Debt of about $484 million was led by MUFG and Nord/LB, with $211 million tax equity from Wells Fargo.