First Solar (NASDAQ:FSLR) Posts Quarterly Earnings Results, Beats Expectations By $0.35 EPS

First Solar (NASDAQ:FSLR) posted its quarterly earnings data on Thursday. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.35, FiscalAI reports. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The business’s revenue was up 23.6% on a year-over-year basis.

Here are the key takeaways from First Solar’s conference call:

• Record first-quarter results — $1.0B in net sales, adjusted EBITDA of $520M (60% margin), net income of $347M and EPS $3.22, above the company’s Q1 preview.
• CuRe launch is complete in Perrysburg with Series 6 ramping; management expects CuRe to deliver up to ~8% more lifetime specific energy versus TOPCon and could add up to $0.6B of technology-adjuster revenue from the backlog, with replication planned across Series 6/7 through H1 2028.
• Southeast Asia (Malaysia/Vietnam) facilities are running at significantly reduced utilization due to trade dynamics and lower international ASPs, and future use of that capacity (finish in U.S., run full end?to?end, or shut) depends on the unresolved Section 232 tariff outcome, creating near-term operational uncertainty.
• Backlog is 47.9 GW at an aggregate transaction price of $14.4B (ex tech adjusters); management sold ~3.8 GW in Q1 and is being selective on new U.S. bookings (~$0.34–$0.35/W) while awaiting key policy/regulatory decisions (Section 232, FEOC, ITC Section 337) that could affect pricing and demand.

First Solar Stock Up 5.0%

NASDAQ:FSLR traded up $10.18 during mid-day trading on Friday, hitting $212.07. The company had a trading volume of 4,206,420 shares, compared to its average volume of 2,333,641. The business has a fifty day simple moving average of $198.46 and a 200-day simple moving average of $231.76. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. First Solar has a 1 year low of $122.47 and a 1 year high of $285.99. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.43 and a beta of 1.61.

Insider Buying and Selling

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the completion of the sale, the general counsel directly owned 9,850 shares in the company, valued at $1,966,257. This trade represents a 47.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 7,738 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $1,516,106.34. Following the sale, the chief executive officer owned 91,787 shares of the company’s stock, valued at $17,983,826.91. This represents a 7.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 76,562 shares of company stock valued at $15,042,232 over the last ninety days. Insiders own 0.39% of the company’s stock.

Institutional Trading of First Solar

Several large investors have recently modified their holdings of FSLR. Woodline Partners LP grew its stake in shares of First Solar by 40.7% during the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after acquiring an additional 2,615 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of First Solar by 50.9% during the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock valued at $85,000 after acquiring an additional 174 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of First Solar by 84.3% during the second quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock valued at $750,000 after acquiring an additional 2,072 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of First Solar during the second quarter valued at about $494,000. Finally, AXA S.A. grew its stake in First Solar by 6.3% in the second quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer’s stock worth $3,122,000 after purchasing an additional 1,115 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays decreased their price objective on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Freedom Capital cut First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday. Morgan Stanley cut their target price on First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore cut their target price on First Solar from $241.00 to $212.00 in a research report on Thursday, March 5th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $245.10.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Q1 results beat on profitability: First Solar reported GAAP EPS of $3.22 and record quarterly revenue (~$1.04B), with meaningful margin expansion and adjusted EBITDA above previews — a direct catalyst for upside investor reaction. First Solar rises as Q1 earnings top consensus despite tariffs
• Positive Sentiment: Guidance reaffirmed: Management reaffirmed full?year 2026 guidance (net sales $4.9B–$5.2B; adjusted EBITDA $2.6B–$2.8B), which reduces near?term modelling uncertainty and likely supported the rally. First Solar shares jump as Q1 results top estimates and guidance is reaffirmed
• Positive Sentiment: Bullish demand commentary and U.S. manufacturing push: CEO Mark Widmar highlighted strong demand (including from AI/data center needs) and progress scaling U.S. manufacturing — comments that support longer?term revenue visibility. First Solar CEO on solar energy’s role amid increasing AI power demand
• Neutral Sentiment: Operational wins but mixed signals: Company noted record sales in India, 1.9 GW gross bookings and strong module volumes — positive operational datapoints, though their translation into sustained margin expansion depends on execution. First Solar Q1 2026 earnings transcript
• Neutral Sentiment: Guidance midpoint slightly below some analyst estimates: while guidance was affirmed (positive for certainty), the midpoint was ~3.2% below some Street forecasts — a modest offset to the beat. First Solar surprises with Q1 sales
• Negative Sentiment: Heavy insider selling: Recent data show numerous insider sales (many executives sold shares in the past six months), which can be perceived negatively by some investors as a signal to monitor. Quiver Quant — insider activity and analysis

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.