First Solar (FSLR) Earnings Date & Reports
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects... Show more
FSLR is expected to report earnings to fall 3.11% to $3.12 per share on July 23
First Solar (FSLR) Q1 2026 Earnings Recap: Record Q1 Sales and EPS Beat Boost Shares
Key Takeaways
- First Solar reported Q1 2026 net sales of $1.04 billion, up 24% year-over-year, marking a quarterly record.
- Diluted EPS came in at $3.22, a 65% increase from $1.95 in Q1 2025 and above consensus estimates of around $2.98.
- Gross profit rose to $486.1 million, with adjusted EBITDA reaching $520 million at a 50% margin.
- The company produced 4.3 GW (gigawatts) and sold 3.8 GW of solar modules during the quarter.
- 2026 full-year guidance was reaffirmed, including net sales of $4.9–$5.2 billion.
- Shares surged nearly 6% following the release on April 30, 2026.
Earnings Context and Why It Matters
First Solar, a leading thin-film solar module manufacturer, released its Q1 2026 earnings on April 30, after market close, for the quarter ended March 31. This report is critical amid a competitive solar industry facing trade tensions, supply chain shifts, and U.S. policy support for domestic production. With a contracted backlog of 47.9 GW, the results highlight First Solar's resilience through its U.S.-focused manufacturing and technology edge over Chinese competitors. Investors watch closely for execution on expansion, margin sustainability, and demand signals from utility-scale projects, especially with Inflation Reduction Act incentives boosting North American solar growth.
First Solar delivered strong Q1 2026 results, with net sales of $1.04 billion, slightly below the $1.05 billion consensus but up 24% from $844.6 million in Q1 2025, driven by higher module sales volumes. Gross profit climbed to $486.1 million from $344.4 million year-over-year, reflecting margin expansion.
Net income reached $346.6 million, up from $209.5 million, translating to diluted EPS of $3.22—surpassing analyst expectations of approximately $2.98 and up 65% from $1.95 last year. Adjusted EBITDA hit $520 million with a 50% margin, exceeding the company's Q1 preview range. The firm produced 4.3 GW and sold 3.8 GW of modules, supported by record sales in India.
Guidance for full-year 2026 was reaffirmed, projecting 17.0–18.2 GW sold, net sales of $4.9–$5.2 billion, and adjusted EBITDA of $2.6–$2.8 billion. Q2 outlook includes 3.4–4.0 GW module sales and adjusted EBITDA of $400–$500 million.
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Market Reaction and Investor Sentiment
First Solar's shares closed up 5.92% at $201.89 on May 1, 2026, following the April 30 earnings release, outperforming the broader tech sector. The rally reflected investor approval of the EPS beat, margin gains, and steady guidance despite a slight revenue shortfall. Sentiment turned positive, with analysts noting the company's strong backlog and U.S. manufacturing advantages amid global solar headwinds.
Forward Outlook and Key Factors to Monitor
First Solar reaffirmed its 2026 guidance, signaling confidence in delivering 17.0–18.2 GW of module sales and $4.9–$5.2 billion in revenue. This assumes Section 45X tax credits (U.S. production tax credits for solar manufacturing) of $2.10–$2.19 billion and manageable underutilization costs.
Investors should track Q2 execution, with expected 3.4–4.0 GW sales and $400–$500 million adjusted EBITDA. Capacity ramp-ups at new U.S. facilities, including South Carolina, will be pivotal, alongside capex of $0.8–$1.0 billion. The 47.9 GW backlog provides visibility, but shifts in utility demand, policy changes, and competition from crystalline silicon panels remain risks.
Net cash balance is projected at $1.7–$2.3 billion by year-end, supporting growth. Broader dynamics like interest rates affecting project financing and international trade policies will influence margins. CEO Mark Widmar emphasized the firm's technology differentiation and supply chain independence.
Disclaimer
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General Information
a provider of photovoltaic solar energy solutions
Industry AlternativePowerGeneration