Canadian Solar (NASDAQ: CSIQ) shares tumbled 6.65% in pre-market trading on Tuesday following the release of its fourth-quarter 2024 earnings report and first-quarter 2025 guidance, both of which fell short of market expectations.

The solar panel manufacturer reported fourth-quarter revenue of $1.5 billion, missing analysts' estimates of $1.572 billion. While the company posted a net income of $34 million, translating to earnings per share (EPS) of $0.48, it recorded an adjusted loss per share of $1.47. The stark difference between GAAP and adjusted earnings suggests significant one-time items affecting the company's profitability.

Adding to investors' concerns, Canadian Solar provided a weak outlook for the first quarter of 2025. The company expects Q1 total revenue to be between $1.0 billion and $1.2 billion, significantly below the consensus estimate of $1.59 billion. This guidance implies a substantial sequential decline in revenue, likely contributing to the stock's pre-market plunge. Despite the near-term challenges, Canadian Solar maintained its full-year 2025 outlook, projecting total revenue in the range of $7.3 billion to $8.3 billion and reiterating its CSI Solar module shipment guidance of 30 GW to 35 GW.