{"id":1881,"date":"2026-06-02T10:00:00","date_gmt":"2026-06-02T01:00:00","guid":{"rendered":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/?p=1881"},"modified":"2026-06-02T15:55:19","modified_gmt":"2026-06-02T06:55:19","slug":"canadian-solar-reports-first-quarter-2026-results-and-announces-appointment-of-chief-executive-officer","status":"publish","type":"post","link":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/2026\/1881.html","title":{"rendered":"Canadian Solar Reports First Quarter 2026 Results and Announces Appointment of Chief Executive Officer"},"content":{"rendered":"\n<p>KITCHENER, ON,\u00a0May 14, 2026\u00a0\/PRNewswire\/ &#8212;\u00a0<a href=\"http:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Canadian Solar Inc.<\/a>\u00a0(&#8220;Canadian Solar&#8221; or the &#8220;Company&#8221;) (NASDAQ: CSIQ) today announced financial results for the first\u00a0quarter ended\u00a0March 31, 2026.<br><br><\/p>\n\n\n\n<p><strong>First Quarter Highlights<\/strong><br><br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Solar module shipments of 2.5\u00a0GW, above guidance of 2.2 GW to 2.4 GW.<\/li>\n\n\n\n<li>Energy storage shipments of 2.1\u00a0GWh, exceeding guidance of 1.7 GWh to 1.9 GWh.<\/li>\n\n\n\n<li>Net revenues of\u00a0$1.1 billion, at the high end of\u00a0$900 million\u00a0to\u00a0$1.1 billion\u00a0guidance.<\/li>\n\n\n\n<li>Gross margin of 25.1%.<\/li>\n\n\n\n<li>Commenced trial production at the flagship\u00a0HJT solar cell factory in\u00a0Jeffersonville, Indiana, marking a key milestone in\u00a0U.S.\u00a0domestic manufacturing, with\u00a0commercial operation targeted to begin in\u00a0July 2026.<\/li>\n\n\n\n<li>Appointment of Mr. Colin\u00a0Parkin as Chief Executive Officer, effective\u00a0May 14, 2026.\u00a0Mr. Parkin\u00a0previously served as President of\u00a0Canadian Solar. Dr.\u00a0Shawn Qu, the Company&#8217;s founder, will transition from Chairman and Chief Executive Officer to the roles of Executive Chairman and Chief Technology Officer.<br><br><\/li>\n<\/ul>\n\n\n\n<p><strong>Dr.\u00a0Shawn Qu, Executive Chairman and CTO<\/strong>, commented, &#8220;Canadian Solar&#8217;s\u00a0journey from its founding in\u00a0Ontario\u00a0to its current position as a global leader in integrated clean energy is a testament to our enduring resilience. We have consistently evolved, and today we are navigating a pivotal shift from volume-driven expansion to value-driven leadership. This evolution calls for thoughtful leadership succession, and I am incredibly proud to transition the Chief Executive role to\u00a0Colin Parkin, whose execution and operational leadership have already established our first-mover advantage in the energy storage sector. As I dedicate my focus to advancing our technological roadmap, we are deepening our commitment to our\u00a0U.S.\u00a0manufacturing footprint. Our\u00a0Jeffersonville\u00a0solar cell facility has entered trial production, and commercial operation is expected to commence in about two months. Coupled with the capacity expansion at our\u00a0Mesquite\u00a0module plant, we are helping strengthen the American solar supply chain to ensure long-term, sustainable growth.&#8221;<br><br><\/p>\n\n\n\n<p>Dr.\u00a0Shawn Qu\u00a0founded\u00a0Canadian Solar Inc.\u00a0in\u00a0Mississauga, Ontario\u00a025 years ago. He holds a Ph.D. in Materials Science from the\u00a0University of Toronto, an\u00a0M.Sc. in Physics and an honorary doctorate from the\u00a0University of Manitoba, and a\u00a0B.Sc. in Physics from\u00a0Tsinghua University.\u00a0Dr. Qu\u00a0has been a Fellow of the\u00a0Canadian Academy of Engineering\u00a0since 2019.<br><br><\/p>\n\n\n\n<p><strong>Colin Parkin, CEO of\u00a0Canadian Solar<\/strong>, said, &#8220;We began the year with strong execution, exceeding guidance across all metrics. We delivered 2.5 GW of solar modules globally with an optimized mix of\u00a0U.S.\u00a0volumes. We maintained a disciplined approach to solar module shipments throughout the quarter, strategically managing volumes in response to elevated feedstock costs\u2014including silver\u2014to protect profitability. Our domestic manufacturing in the\u00a0U.S.\u00a0contributed robust margins, as we continue to reshore our supply chain. In our energy storage segment, we recognized revenue on 2.1 GWh of volume, supported by smooth construction progress across multiple customer sites. We will build on this momentum, with storage volumes expected to reach record levels in the second half. The broader solar market remains complex, as incremental price increases have not yet fully absorbed upstream cost pressures. Furthermore, competition in the storage sector is intensifying. In the face of these challenges, we remain committed to a balanced strategy focused on rigorous execution and continuous innovation.&#8221;<br><br><\/p>\n\n\n\n<p><strong>Ismael Guerrero, CEO of\u00a0Canadian Solar&#8217;s\u00a0subsidiary Recurrent Energy<\/strong>, said, &#8220;The sequential improvement in revenue was primarily driven by the sale of the Fort Duncan project, while the improvement in margin reflected the absence of pipeline impairment charges this quarter. As we continue to monetize other operating and under-construction assets, the impact on our results of operations may be less favorable in the near term. However, this strategy remains necessary to deleverage our balance sheet and recycle capital.&#8221;<br><br><\/p>\n\n\n\n<p><strong>Xinbo Zhu, Senior VP and CFO<\/strong>, added, &#8220;In the first quarter of 2026, we achieved\u00a0$1.1 billion\u00a0in revenue and a gross margin of 25.1%, with gross margin increasing both sequentially and year-over-year primarily due to the recognition of tariff refund benefits. Aided by this one-time benefit and continued controls on operating expenses, net loss attributable to shareholders narrowed to\u00a0$32 million, or\u00a0$0.71\u00a0per share. We closed the period with a cash position of\u00a0$1.9 billion.&#8221;<br><br><\/p>\n\n\n\n<p><strong>First\u00a0Quarter 2026 Results<\/strong><br><br><\/p>\n\n\n\n<p>Total solar module shipments recognized as revenue in Q1\u00a02026 were 2.5\u00a0GW, down\u00a042% quarter-over-quarter (&#8220;qoq&#8221;) and down 64% year-over-year (&#8220;yoy&#8221;).<br><br><\/p>\n\n\n\n<p>Total battery energy storage shipments recognized as revenue in Q1 2026 were 2.1 GWh, up 5% qoq and up 142% yoy.<br><br><\/p>\n\n\n\n<p>Net revenues were\u00a0$1.1\u00a0billion in Q1\u00a02026, down\u00a011% sequentially and 10% yoy, mainly due to lower sales of solar modules partially offset by higher sales of\u00a0battery energy storage systems.<br><br><\/p>\n\n\n\n<p>Gross profit was $271\u00a0million, inclusive of a\u00a0$93 million\u00a0tariff refund benefit, compared to $124\u00a0million in Q4\u00a02025 and $140\u00a0million in Q1\u00a02025. Gross margin was 25.1%, compared to 10.2% and 11.7% in Q4\u00a02025 and Q1\u00a02025, respectively. The sequential and yoy increase in gross margin was\u00a0primarily due to the recognition of IEEPA tariff refund benefits.<br><br><\/p>\n\n\n\n<p>Operating expenses were $198\u00a0million, compared to\u00a0$188\u00a0million in Q4\u00a02025 and up from $195\u00a0million in Q1\u00a02025\u00a0due to lower logistics costs offset by the absence of one-time gains recorded in the previous quarter.\u00a0Operating expenses represented 18.4% of revenue, compared to 15.5% in Q4\u00a02025 and 16.3% in Q1\u00a02025.<br><br><\/p>\n\n\n\n<p>Net loss attributable to\u00a0Canadian Solar\u00a0in accordance with generally accepted accounting principles in\u00a0the United States of America\u00a0(&#8220;GAAP&#8221;) in Q1\u00a02026 was\u00a0$32 million, or a net loss of\u00a0$0.71\u00a0per share, compared to a net loss of\u00a0$86 million, or a net loss of\u00a0$1.66\u00a0per share, in Q4\u00a02025, and a net loss\u00a0of $34\u00a0million, or a net loss of\u00a0$0.69\u00a0per share, in Q1\u00a02025. Net income or loss per diluted share includes the dilutive effect of convertible bonds, as applicable, and dividends on the Recurrent Energy redeemable preferred shares.<br><br><\/p>\n\n\n\n<p>Net cash flow used in operating activities in Q1\u00a02026 was $209\u00a0million, driven by changes in working capital, specifically an increase in\u00a0inventories, compared to net cash flow used in operating activities of\u00a0$65 million\u00a0in Q4 2025 and net cash flow used in operating activities of\u00a0$264 million\u00a0in Q1 2025.<br><br><\/p>\n\n\n\n<p>Total debt, including financing liabilities, was\u00a0$6.8 billion\u00a0as of\u00a0March 31, 2026, including\u00a0$3.8 billion,\u00a0$2.6 billion\u00a0and\u00a0$0.4 billion\u00a0related to Recurrent Energy, Manufacturing, and convertible notes, respectively. Total debt increased from\u00a0$6.5 billion\u00a0as of\u00a0December 31, 2025, mainly due to the issuance of convertible notes. Total non-recourse debt under Recurrent Energy as of\u00a0March 31, 2026, was\u00a0$2.3 billion.<br><br><\/p>\n\n\n\n<p><strong>Business Segments<\/strong><br><br><\/p>\n\n\n\n<p>On\u00a0December\u00a01, 2025, Canadian Solar\u00a0announced a strategic initiative to resume direct oversight of its\u00a0U.S.\u00a0operations. The Company has formed a new joint venture with its majority-owned subsidiary,\u00a0CSI Solar Co., Ltd.\u00a0(&#8220;CSI Solar&#8221;), by holding a 75.1% controlling stake in\u00a0CS PowerTech Inc.\u00a0(&#8220;CS PowerTech&#8221;), which operates\u00a0U.S.-based manufacturing and sales of solar modules, solar cells, and advanced energy storage systems.<br><br><\/p>\n\n\n\n<p>Following the consummation of this strategic initiative,\u00a0Canadian Solar&#8217;s\u00a0business is organized into two segments:<br><br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Manufacturing, comprising CS\u00a0PowerTech, which focuses on the manufacturing and sales of solar products, battery energy storage products, and other power technology products for the U.S. market, and\u00a0CSI Solar, which serves all other global markets; and<\/li>\n\n\n\n<li>Recurrent Energy, which focuses on solar power and battery storage project development, asset sales, power services, and electricity revenue from its operating portfolio.<br><br><\/li>\n<\/ul>\n\n\n\n<p><strong>Manufacturing<\/strong><br><strong><br><\/strong><em><u>Solar Modules and Solar System Kits<br><\/u><\/em><br>The Company shipped 2.5 GW of solar modules and solar system kits to more than 60 countries and regions in Q1 2026.<br><br><\/p>\n\n\n\n<p>Consistent with the Company&#8217;s transition from volume-driven growth to high-value creation, the Company will focus its disclosure on strategic markets rather than aggregate global manufacturing capacity.<br><br><\/p>\n\n\n\n<p>In the\u00a0U.S., the Company operates a 5 GWp solar module factory in\u00a0Mesquite, Texas, which it expects to expand to nameplate capacity of 10 GWp by the second half of 2026.<br><br><\/p>\n\n\n\n<p>The Company is also continuing to advance its flagship, state-of-the-art heterojunction technology (&#8220;HJT&#8221;) solar cell factory in\u00a0Jeffersonville, Indiana. In response to strong customer demand, the Company is increasing its production capacity beyond 5\u202fGWp, with additional production lines being installed and commissioned through 2026.<br><br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Phase I: Trial production began in\u00a0April 2026. Phase I has a nameplate capacity of 2.1 GWp and is expected to become one of the first commercial-scale HJT solar cell facilities in the\u00a0U.S.\u00a0upon commencement of commercial operations.<\/li>\n\n\n\n<li>Phase II: The Company expects to begin trial production for Phase II at the beginning of 2027. This expansion will add 4.2 GWp of capacity, bringing the Company&#8217;s total solar cell nameplate capacity in the\u00a0U.S.\u00a0to 6.3 GWp.<br><br><\/li>\n<\/ul>\n\n\n\n<p><em><u>e-STORAGE: Battery Energy Storage Solutions<br><\/u><\/em><br>As of\u00a0May 8, 2026, e-STORAGE\u00a0contracted backlog, including contracted long-term service agreements, stood at\u00a0$3.5 billion. These signed orders represent binding customer commitments and provide significant earnings visibility over a multi-year period.<br><br><\/p>\n\n\n\n<p><strong>Recurrent Energy<\/strong><br><br>As of\u00a0March 31, 2026, the Company had a total global solar project development pipeline of approximately 24\u00a0GWp and a battery energy storage project development pipeline of 81\u00a0GWh.<br><br><\/p>\n\n\n\n<p>The business model consists of three key drivers:<br><br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Electricity revenue from the operating portfolio\u00a0<\/strong>to drive stable, diversified cash flows in growth markets with stable currencies;<\/li>\n\n\n\n<li><strong>Asset sales<\/strong>, including selective operating assets in stable currency markets and assets in the rest of the world, to manage cash flow, debt levels and to fund growth in the operating portfolio; and<\/li>\n\n\n\n<li><strong>Power services (O&amp;M)\u00a0<\/strong>through long-term operations and maintenance (&#8220;O&amp;M&#8221;) contracts, currently with 15\u00a0GW of contracted projects, to drive stable and long-term recurring earnings and synergies with the project development platform.<br><br><\/li>\n<\/ul>\n\n\n\n<p><em><u>Project Development Pipeline \u2013 Solar<br><\/u><\/em><br>As of\u00a0March 31, 2026, the Company&#8217;s total solar project development pipeline was 23.7\u00a0GWp, including 1.8\u00a0GWp under construction, 2.6\u00a0GWp of backlog, and 19.3\u00a0GWp of projects in advanced and early-stage development, defined as follows:<br><br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Backlog<\/strong>\u00a0<strong>projects<\/strong>\u00a0are late-stage projects that have passed their risk cliff date and are expected to start construction within the next one to four years. A project&#8217;s risk cliff date is the date on which it passes the last high-risk development stage and varies by country. Typically, this occurs after the project has received all required environmental and regulatory approvals, and entered into interconnection agreements and offtake contracts, including feed-in tariff (&#8220;FIT&#8221;) arrangements and power purchase agreements (&#8220;PPAs&#8221;). A significant majority of backlog projects are contracted (i.e., have secured a PPA or FIT), and the remainder have reasonable assurance of securing PPAs.<\/li>\n\n\n\n<li><strong>Advanced pipeline projects\u00a0<\/strong>are mid-stage projects that have secured or are assessed by the Company as having a greater than 90% likelihood of securing an interconnection agreement.<\/li>\n\n\n\n<li><strong>Early-stage pipeline projects<\/strong>\u00a0are early-stage projects controlled by the Company\u00a0that are in the process of securing interconnection.<br><br><\/li>\n<\/ul>\n\n\n\n<p>While the magnitude of the Company&#8217;s project development pipeline is an important indicator of potential increases in power generation and battery energy storage capacity, as well as potential future revenue growth, the development of projects in its pipeline is inherently uncertain. If the Company does not successfully complete the pipeline projects in a timely manner, it may not realize the anticipated benefits of those projects to the extent expected, which could adversely affect its business, results of operations, and financial condition. In addition, the Company&#8217;s guidance and estimates of its future operating and financial results assume the completion of certain solar projects and battery energy storage projects in its pipeline. If the Company is unable to execute on its actionable pipeline, it may fail to meet its guidance, which could adversely affect the market price of its common shares and its business, results of operations, and financial condition.<br><br><\/p>\n\n\n\n<p>The following table presents\u00a0<strong>the Company&#8217;s total solar project development<\/strong>\u00a0pipeline.<br><br><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image.png\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"271\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image.png\" alt=\"\" class=\"wp-image-1883\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image.png 784w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-300x104.png 300w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-768x265.png 768w\" sizes=\"auto, (max-width: 784px) 100vw, 784px\" \/><\/a><\/figure>\n\n\n\n<p><br><br><br><em><u>Project Development Pipeline \u2013 Battery Energy Storage<\/u><\/em><br><br><\/p>\n\n\n\n<p>As of\u00a0March 31, 2026, the Company&#8217;s total battery energy storage project development pipeline was 80.6 GWh, including 5.0\u00a0GWh under construction and in backlog, and 75.6\u00a0GWh of projects in advanced and early-stage development.<br><br><\/p>\n\n\n\n<p>The table below sets forth\u00a0<strong>the Company&#8217;s total battery energy storage project development<\/strong>\u00a0pipeline.<br><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"633\" height=\"265\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-1.png\" alt=\"\" class=\"wp-image-1884\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-1.png 633w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-1-300x126.png 300w\" sizes=\"auto, (max-width: 633px) 100vw, 633px\" \/><\/a><\/figure>\n\n\n\n<p><br><br><strong>Business Outlook<\/strong><br><br><\/p>\n\n\n\n<p>The Company&#8217;s business outlook is based on management&#8217;s current views and estimates, taking into account factors such as existing market conditions, order book, production capacity, input material prices, foreign exchange fluctuations, the anticipated timing of project sales, and the global economic environment. This outlook is subject to uncertainty with respect to, among other things, customer demand, project construction and sale schedules, product sales prices and costs, supply chain constraints, and geopolitical conflicts. Management&#8217;s views and estimates are subject to change without notice.<br><br><\/p>\n\n\n\n<p>In Q2\u00a02026, the Company expects total revenue to be in the range of\u00a0$1.0\u00a0billion\u00a0to\u00a0$1.2\u00a0billion. Gross margin is expected to be between\u00a013%\u00a0and 15%. Total module shipments recognized as revenue are expected to be in the range of 3.1\u00a0GW to\u00a03.3\u00a0GW. Total battery energy storage shipments in Q2 2026\u00a0are expected to be in the range of 2.8\u00a0GWh to 3.2 GWh, including approximately 400 MWh to internal and external projects under execution.<br><br><\/p>\n\n\n\n<p>The Company is reiterating its guidance of 6.5 to 7.0 GW of solar modules and 4.5 to 5.5 GWh of battery energy storage solutions for the U.S. market in 2026.<br><br><\/p>\n\n\n\n<p><strong>Colin Parkin, CEO of\u00a0Canadian Solar<\/strong>, commented, &#8220;The first half of the year reflects prevailing market challenges, with solar margins remaining under pressure. In our energy storage business, margins are normalizing, and we remain partially exposed to fluctuations in lithium carbonate pricing. These factors, combined with a broader backdrop of policy uncertainty and geopolitical volatility, continue to impact both customers&#8217; long-term planning and our own operational execution. We anticipate stronger storage volumes and the benefits from the ramp-up of our\u00a0U.S.\u00a0domestic solar cell manufacturing to be weighted toward the second half, while our project development business continues to execute on its rebalancing strategy.&#8221;<br><br><\/p>\n\n\n\n<p><strong>Recent Developments<\/strong><br><br><\/p>\n\n\n\n<p><em><u>Canadian Solar<\/u><\/em><br><br><\/p>\n\n\n\n<p>On\u00a0May 14, 2026,\u00a0Canadian Solar\u00a0announced the appointment of Mr.\u00a0Colin Parkin\u00a0as Chief Executive Officer, effective immediately.\u00a0Mr. Parkin, who previously served as the Company&#8217;s President, succeeds founder Dr.\u00a0Shawn Qu, who has transitioned from Chairman and CEO to the roles of Executive Chairman and Chief Technology Officer. In this new capacity,\u00a0Dr. Qu\u00a0will focus on spearheading the Company&#8217;s technological innovation and long-term R&amp;D strategy.<br><br><\/p>\n\n\n\n<p>On\u00a0April 17, 2026,\u00a0Canadian Solar\u00a0announced that the Patent Trial and Appeal Board (&#8220;PTAB&#8221;) of the\u00a0U.S. Patent and Trademark Office\u00a0(&#8220;USPTO&#8221;) issued Final Written Decisions invalidating all claims of two\u00a0TOPCon\u00a0(Tunnel Oxide Passivated Contact) solar cell patents. These patents were previously asserted by Trina Solar Co., Ltd. (&#8220;Trina&#8221;) against certain subsidiaries of\u00a0Canadian Solar. These decisions reflect\u00a0Canadian Solar&#8217;s\u00a0continued ability to manage international intellectual property disputes.<br><br><\/p>\n\n\n\n<p><em><u>Manufacturing: CS PowerTech and\u00a0CSI Solar<\/u><\/em><br><br><\/p>\n\n\n\n<p>On\u00a0March 31, 2026,\u00a0Canadian Solar\u00a0announced that it would deliver a total of 420 MWh AC of battery energy storage systems for Drax Group, a leading\u00a0UK\u00a0renewable energy company, across two projects in the\u00a0United Kingdom. Both projects are being developed by Apatura and have been acquired by Drax. Battery installations are scheduled to commence in the third quarter of 2026 at the\u00a0Marfleet\u00a0site, with the Neilston project expected to start installations in early 2027.<br><br><\/p>\n\n\n\n<p><strong>Conference Call Information<\/strong><br><br><\/p>\n\n\n\n<p>The Company will hold a conference call on\u00a0Thursday, May 14, 2026, at\u00a08:00 a.m.\u00a0U.S.\u00a0Eastern Time to discuss the Company&#8217;s\u00a0first quarter 2026\u00a0results and business outlook. The dial-in phone number for the live audio call is +1-877-704-4453\u00a0(toll-free from the\u00a0U.S.) or +1-201-389-0920\u00a0from international locations. The conference ID is 13760199. A live webcast of the conference call will also be available via the\u00a0<a href=\"https:\/\/viavid.webcasts.com\/starthere.jsp?ei=1760497&amp;tp_key=396cafcde3\" target=\"_blank\" rel=\"noreferrer noopener\">webcast link<\/a>\u00a0on the investor relations section of\u00a0Canadian Solar&#8217;s\u00a0website.<br><br><\/p>\n\n\n\n<p>A replay of the call will be available after the conclusion of the call until\u00a011:00 p.m.\u00a0U.S.\u00a0Eastern Time on\u00a0Thursday, May 28, 2026, and can be accessed by dialing +1-844-512-2921 (toll-free from the\u00a0U.S.) or +1-412-317-6671 from international locations. The replay pin number is 13760199. A webcast replay will also be available via the\u00a0<a href=\"https:\/\/viavid.webcasts.com\/starthere.jsp?ei=1760497&amp;tp_key=396cafcde3\" target=\"_blank\" rel=\"noreferrer noopener\">webcast link<\/a>\u00a0on the investor relations section of\u00a0Canadian Solar&#8217;s\u00a0website.<br><br><\/p>\n\n\n\n<p><strong>About\u00a0Canadian Solar Inc.<\/strong><br><br><\/p>\n\n\n\n<p>Canadian Solar\u00a0is one of the world&#8217;s largest solar technology and renewable energy companies. Founded in 2001 and headquartered in\u00a0Kitchener, Ontario, the Company is a leading manufacturer of solar photovoltaic modules; provider of solar energy and battery energy storage solutions; and developer, owner, and operator of utility-scale solar power and battery energy storage projects. Over the past 25 years,\u00a0Canadian Solar\u00a0has successfully delivered\u00a0nearly 177\u00a0GW of premium-quality, solar photovoltaic modules to customers across the world. Through its subsidiary e-STORAGE,\u00a0Canadian Solar\u00a0had shipped over 20\u00a0GWh\u00a0of\u00a0battery energy storage solutions to global markets as of\u00a0March 31, 2026, and had a\u00a0$3.5\u00a0billion contracted backlog as of\u00a0May 8, 2026. Since entering the project development business in 2010,\u00a0Canadian Solar\u00a0has developed, built, and connected approximately 12.2\u00a0GWp of solar power projects and 6.4\u00a0GWh of battery energy storage projects globally. Its geographically diversified project development pipeline includes 24 GWp of solar and 81 GWh of battery energy storage capacity in various stages of development. Canadian Solar\u00a0is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006.\u00a0For additional information about the Company, follow\u00a0Canadian Solar\u00a0on\u00a0<a href=\"https:\/\/www.linkedin.com\/company\/canadian-solar-inc-\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn\u00a0<\/a>or visit\u00a0<a href=\"http:\/\/www.canadiansolar.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.canadiansolar.com<\/a>.<br><br><\/p>\n\n\n\n<p><strong>Safe Harbor\/Forward-Looking Statements<\/strong><br><br><\/p>\n\n\n\n<p>Certain statements in this press release, including those regarding the Company&#8217;s expected future shipment volumes, revenues, gross margins, and project sales are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the &#8220;Safe Harbor&#8221; provisions of the\u00a0U.S.\u00a0Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;future&#8221;, &#8220;ongoing&#8221;, &#8220;continue&#8221;, &#8220;intend&#8221;, &#8220;plan&#8221;, &#8220;potential&#8221;, &#8220;prospect&#8221;, &#8220;guidance&#8221;, &#8220;believe&#8221;, &#8220;estimate&#8221;, &#8220;is\/are likely to&#8221; or similar expressions, the negative of these terms, or other comparable terminology. These forward-looking statements include, among other things, our expectations regarding global electricity demand and the markets for solar power and battery energy storage; our growth strategies, future business performance, and financial condition; our ability to sustain our project development and balance long-term asset ownership with selective project sales; our ability to monetize project portfolios, manage supply chain fluctuations, and respond to economic factors such as inflation and interest rates; our outlook on government incentives, and policy support schemes, trade measures, regulatory developments, and geopolitical risks; our expectations for project timelines, costs, offtake and returns; competitive dynamics in solar and storage markets; our ability to execute supply chain, manufacturing, and operational initiatives; access to capital, debt obligations, and covenant compliance; relationships with key suppliers and customers; technological advancement and product quality; and risks related to intellectual property, litigation, and compliance with environmental and sustainability regulations. Other risks are described in the Company&#8217;s filings with the Securities and Exchange Commission, including its latest annual report on Form 20-F filed on\u00a0April 10, 2026. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today&#8217;s date, unless otherwise stated, and\u00a0Canadian Solar\u00a0undertakes no duty to update such information, except as required under applicable law.<br><br><\/p>\n\n\n\n<p class=\"has-text-align-left\"><strong>Investor Relations Contact:<\/strong><br><br>Wina Huang<br>Investor Relations<br>Canadian Solar Inc.<br><a href=\"mailto:investor@canadiansolar.com\" target=\"_blank\" rel=\"noreferrer noopener\">investor@canadiansolar.com<\/a><br><\/p>\n\n\n\n<p class=\"has-text-align-center\"><br><br><strong>FINANCIAL TABLES FOLLOW<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-left\"><br><strong>The following tables provide unaudited select financial data for the Company&#8217;s Manufacturing and Recurrent Energy businesses<\/strong>.<br><br><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-15.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1116\" height=\"826\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-15.png\" alt=\"\" class=\"wp-image-1913\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-15.png 1116w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-15-300x222.png 300w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-15-1024x758.png 1024w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-15-768x568.png 768w\" sizes=\"auto, (max-width: 1116px) 100vw, 1116px\" \/><\/a><\/figure>\n\n\n\n<p><br><br>The following table summarizes the revenues generated from each product or service.<br><br><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-3.png\"><img loading=\"lazy\" decoding=\"async\" width=\"786\" height=\"452\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-3.png\" alt=\"\" class=\"wp-image-1894\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-3.png 786w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-3-300x173.png 300w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-3-768x442.png 768w\" sizes=\"auto, (max-width: 786px) 100vw, 786px\" \/><\/a><\/figure>\n\n\n\n<p><br><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-4.png\"><img loading=\"lazy\" decoding=\"async\" width=\"842\" height=\"902\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-4.png\" alt=\"\" class=\"wp-image-1895\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-4.png 842w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-4-280x300.png 280w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-4-768x823.png 768w\" sizes=\"auto, (max-width: 842px) 100vw, 842px\" \/><\/a><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-11.png\"><img loading=\"lazy\" decoding=\"async\" width=\"835\" height=\"286\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-11.png\" alt=\"\" class=\"wp-image-1904\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-11.png 835w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-11-300x103.png 300w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-11-768x263.png 768w\" sizes=\"auto, (max-width: 835px) 100vw, 835px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-6.png\"><img loading=\"lazy\" decoding=\"async\" width=\"894\" height=\"545\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-6.png\" alt=\"\" class=\"wp-image-1897\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-6.png 894w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-6-300x183.png 300w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-6-768x468.png 768w\" sizes=\"auto, (max-width: 894px) 100vw, 894px\" \/><\/a><\/figure>\n\n\n\n<p><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-7.png\"><img loading=\"lazy\" decoding=\"async\" width=\"486\" height=\"910\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-7.png\" alt=\"\" class=\"wp-image-1898\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-7.png 486w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-7-160x300.png 160w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\" \/><\/a><\/figure>\n\n\n\n<p><br><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-8.png\"><img loading=\"lazy\" decoding=\"async\" width=\"552\" height=\"777\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-8.png\" alt=\"\" class=\"wp-image-1899\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-8.png 552w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-8-213x300.png 213w\" sizes=\"auto, (max-width: 552px) 100vw, 552px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-9.png\"><img loading=\"lazy\" decoding=\"async\" width=\"554\" height=\"408\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-9.png\" alt=\"\" class=\"wp-image-1900\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-9.png 554w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-9-300x221.png 300w\" sizes=\"auto, (max-width: 554px) 100vw, 554px\" \/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-10.png\"><img loading=\"lazy\" decoding=\"async\" width=\"704\" height=\"826\" src=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-10.png\" alt=\"\" class=\"wp-image-1901\" srcset=\"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-10.png 704w, https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-content\/uploads\/2026\/06\/image-10-256x300.png 256w\" sizes=\"auto, (max-width: 704px) 100vw, 704px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>KITCHENER, ON,\u00a0May 14, 2026\u00a0\/PRNewswire\/ &#8212;\u00a0Canadian Solar Inc.\u00a0(&#8220;Canadian Solar&#8221; or the &#038;#82 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1881","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/comments?post=1881"}],"version-history":[{"count":20,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1881\/revisions"}],"predecessor-version":[{"id":1917,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/posts\/1881\/revisions\/1917"}],"wp:attachment":[{"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/media?parent=1881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/categories?post=1881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadiansolar-energy.co.jp\/en\/news_release\/wp-json\/wp\/v2\/tags?post=1881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}