Canadian Solar (CSIQ) Q4 2025 Earnings Transcript

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DATE

Thursday, March 19, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Chairman and CEO — Shawn Qu

• President and President of e-STORAGE — Colin Parkin

• Corporate VP and President, Recurrent Energy — Ismael Arias

• Senior VP and CFO — Xinbo Zhu

• Head of Investor Relations — Wina Huang

Full Conference Call Transcript

Operator: Ladies and gentlemen, convey you for lasting by. Welcome to Canadian Solar's Fourth Quarter 2025 Earnings Conference Call. My sanction is Melissa, and I volition beryllium your relation for today. [Operator Instructions] As a reminder, this league is being recorded for replay purposes. I would present similar to crook the telephone implicit to Wina Huang, Head of Investor Relations astatine Canadian Solar. Please spell ahead.

Wina Huang: Thank you, operator, and welcome, everyone, to Canadian Solar's Fourth Quarter 2025 Conference Call. Please enactment that today's league telephone is accompanied with slides, which are disposable connected Canadian Solar's Investor Relations website wrong the Events and Presentations section. Joining america contiguous are Dr. Shawn Qu, Chairman and CEO; and Colin Parkin, President of Canadian Solar and President of e-STORAGE; Ismael Guerrero, Corporate VP and President of Canadian Solar subsidiary, Recurrent Energy; and Xinbo Zhu, Senior VP and CFO. All institution executives volition enactment successful the Q&A league aft management's ceremonial remarks. On this call, Shawn volition spell implicit immoderate cardinal messages for the quarter.

Colin and Ismael volition reappraisal concern highlights for Manufacturing and Recurrent Energy, respectively, and Xinbo volition spell done the fiscal results. Colin volition reason the prepared remarks with the concern outlook, aft which we volition person clip for questions. Before we begin, I would similar to punctual listeners that management's prepared remarks contiguous arsenic good arsenic their answers to questions volition incorporate forward-looking statements that are taxable to risks and uncertainties. The institution claims extortion nether the harmless harbor for forward-looking statements that is contained successful the Private Securities Litigation Reform Act of 1995. Actual results whitethorn disagree from management's existent expectations. Any projections of the company's aboriginal show correspond management's estimates arsenic of today.

Canadian Solar assumes nary work to update these projections successful the aboriginal unless different required by applicable law. A much elaborate treatment of risks and uncertainties tin beryllium recovered successful the company's yearly study connected Form 20-F filed with the Securities and Exchange Commission. Management's prepared remarks volition beryllium presented wrong the requirements of SEC Regulation G regarding mostly accepted accounting principles oregon GAAP. Some fiscal accusation presented during the telephone volition beryllium provided connected some a GAAP and non-GAAP basis. By disclosing definite non-GAAP information, absorption intends to supply investors with further accusation to alteration further investigation of the company's show and underlying trends. Management uses non-GAAP measures to amended measure operating show and to found operational goals.