Canadian Solar

Canadian Solar reported an $8 billion combined manufacturing and storage backlog, anchored by over 13 GWp of contracted module orders and a $3.5 billion e‑STORAGE backlog, as its Jeffersonville cell plant begins commercial production. Despite rising demand, the company posted a $77 million net loss on revenue down 29% year‑over‑year and gross margin slid to 13.9% from 29.8% a year earlier. Management cited higher freight and ramp financing costs that turned prior operating income into a $71 million operating loss, while total debt rose to $7.1 billion. Recurrent Energy also reported a sequential revenue decline and project impairments, highlighting near‑term pressure despite long‑term growth prospects. » More on finance.yahoo.com

Canadian Solar reported a second-quarter net loss attributable to shareholders of $77 million (−$1.40 per share), missing analysts’ estimate of −$0.74 by a wide margin, although revenue of $1.2 billion slightly beat forecasts. The company recorded 3.1 GW of module sales and 3.3 GWh of revenue in the energy storage segment, but was hit by higher freight costs, startup costs for a new U.S. cell plant and increased interest and currency losses. The stock fell about 4.3% premarket. For Q3, Canadian Solar expects revenue of $1.3–1.5 billion, reaffirmed annual targets for U.S. module shipments and plans roughly $1.3 billion in investments mainly in U.S. production; the order backlog for domestically manufactured modules stands at over 13 GWp through 2029. » More on de.investing.com

Canadian Solar is having Guggenheim Securities evaluate its subsidiary Recurrent Energy after Recurrent in part lost access to US tax credits for clean energy. The unit is seeking to reduce debt and is continuing to explore asset sales while it battles higher material costs, tariff pressure and new rules on Chinese equipment. At the end of last year non-recourse liabilities stood at about $2.17 billion; Recurrent has developed projects with 12.2 GW of solar capacity and 6.4 GWh of battery storage. » More on de.investing.com