CSI Solar (SHA:688472) parent Canadian Solar returned to an attributable profit of $33.9 million in the fourth quarter of 2024 from a loss of $1.4 million in the year-ago period, it said Tuesday.

The solar technology and renewable energy company returned to earnings per share of $0.48 from a loss per share of $0.02 in the previous year.

Net revenue declined 11% year over year to $1.52 billion from $1.70 billion a year earlier.

For the first quarter, total revenue is expected to range between $1 billion and $1.2 billion, with module shipments recognized as revenues by CSI Solar forecast to range between 6.4 gigawatts and 6.7 gigawatts.

For full-year 2025, total module shipments are forecast to range between 30 gigawatts and 35 gigawatts.

Meanwhile, CSI Solar's operating income rose to $50.2 million in the fourth quarter from $40.5 million a year earlier. Revenue slipped to $1.67 billion in the fourth quarter from $1.70 billion in the year-ago period.