Canadian Solar (NASDAQ: CSIQ) shares tumbled 6.65% in pre-market trading on Tuesday following the release of its fourth-quarter 2024 results and first-quarter 2025 guidance. The solar panel manufacturer reported mixed results, with revenue falling short of expectations and a significant adjusted loss per share.

For Q4 2024, Canadian Solar posted revenue of $1.5 billion, missing the analyst consensus estimate of $1.572 billion. While the company reported a GAAP earnings per share (EPS) of $0.48, the adjusted EPS showed a loss of $1.47. The gross margin for the quarter stood at 14.3%, with a gross profit of $217 million. However, operating expenses were relatively high at $344 million, resulting in a net income of $34 million for the quarter.

The market's negative reaction was further exacerbated by Canadian Solar's disappointing outlook for Q1 2025. The company guided for total revenue between $1.0 billion and $1.2 billion, significantly below the current analyst expectations of $1.59 billion. This weak guidance suggests potential challenges in the near term for the solar industry. Despite the short-term headwinds, Canadian Solar maintained its full-year 2025 revenue guidance in the range of $7.3 billion to $8.3 billion and reiterated its CSI Solar segment's module shipments forecast of 30 GW to 35 GW for the year.