Shares of Canadian Solar Inc. (CSIQ) jumped 5.62% in pre-market trading on Tuesday after the company reported fourth quarter 2024 results that missed analyst estimates but maintained its full-year outlook.

The solar panel manufacturer posted revenue of $1.52 billion for Q4, falling short of the $1.58 billion expected by analysts. Canadian Solar reported an adjusted loss of $1.47 per share, significantly wider than the $0.21 loss per share analysts had forecast. Gross margin for the quarter came in at 14.3%, up from 12.5% in the same period last year.

Despite the earnings miss, investors appear encouraged by Canadian Solar's maintained full-year guidance and growth in its energy storage business. The company reiterated its outlook for total module shipments between 30 GW to 35 GW in 2025. Battery energy storage system shipments are projected to reach 11 GWh to 13 GWh this year.

For the first quarter of 2025, Canadian Solar expects revenue between $1.0 billion to $1.2 billion, below the $1.59 billion analysts were expecting. The company cited seasonal factors and ongoing industry challenges for the weaker near-term outlook.

"While near- to mid-term uncertainties persist in the solar market, demand for energy storage is accelerating," said Dr. Shawn Qu, Chairman and CEO of Canadian Solar. "Storage is increasingly compelling, both in stand-alone applications and when paired with solar, driven by growing energy demand from sectors such as data centers and electric vehicles."

The stock's rise in the face of disappointing results suggests investors are looking past near-term headwinds and focusing on Canadian Solar's long-term growth potential in the renewable energy and storage markets. The company's maintained full-year guidance implies an expected improvement in business conditions later in 2025.