FSLR Research | Milton Maxwell

FSLR

First Solar, Inc.

258.51

+2.62+1.02%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

≈ Feb 24, 2026

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

FY Q3 '25

10/29/25Oct 29, 2025

Key Stats

Market Cap

27.74B

P/E (TTM)

19.84

Basic EPS (TTM)

13.03

Dividend Yield

Recent Filings

8-K

Q3 sales surge to $1.6B

10/30/25Oct 30, 2025

First Solar reported third-quarter 2025 net sales of $1.6 billion, up sharply from $1.1 billion in Q2, driven by record 5.3 GW module volume sold. Net income per diluted share hit $4.24, boosting net cash balance to $1.5 billion amid strong bookings of 2.7 GW at 30.9 cents per watt. The company narrowed 2025 guidance to $4.95B-$5.20B in sales and $14.00-$15.00 EPS, while trade uncertainties loom. Cash flows strengthened.

10-Q

Q3 FY2025 results

10/30/25Oct 30, 2025

First Solar's Q3 2025 results showed net sales surging 79.7% year-over-year to $1.59 billion, driven by a 79.1% jump in module volumes sold, while nine-month sales rose 31.4% to $3.54 billion; gross margin dipped to 38.3% from 50.2% due to higher logistics costs and a lower mix of U.S.-produced modules qualifying for Section 45X credits, yet operating income climbed 45% to $466 million. Diluted EPS hit $4.24, up from $2.91, reconciling cleanly with 107.5 million weighted shares. Cash swelled to $2.0 billion, bolstered by $815 million in operating cash flow and Section 45X sales, against $555 million in debt mainly tied to India facilities. Production ramped to 23.5 GW capacity after Louisiana startup. Terminated contracts with an oil and gas customer netted $61 million revenue but sparked litigation for $324 million more. Tariffs on imports pose the sharpest risk, squeezing module pricing and demand.

8-K

First Solar sells tax credits

10/21/25Oct 21, 2025

First Solar inked deals on October 20, 2025, to sell $600 million in fixed advanced manufacturing tax credits for $573 million, payable in two 2025 installments, plus up to $175 million more at $0.955 per dollar due in 2026. These transfers monetize 2025 U.S. production under Section 45X, injecting timely cash while retaining core operations. Deals hinge on standard conditions. Risks lurk in production shortfalls.

10-Q

Q2 FY2025 results

7/31/25Jul 31, 2025

Q2 FY2025 results

8-K

Q2 Earnings Beat Expectations

7/31/25Jul 31, 2025

First Solar reported Q2 2025 net sales of $1.1 billion, up from $0.8 billion in Q1, driven by higher module volumes, with net income per diluted share hitting $3.18. The company booked 2.1 GW in July, bolstering a 64.0 GW backlog through 2030, while net cash balance climbed to $0.6 billion on Section 45X tax credit sales. It updated 2025 guidance, raising net sales to $4.9B-$5.7B and EPS to $13.50-$16.50, yet policy shifts pose execution risks. Strong backlog fuels growth.

About

First Solar, Inc., a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules. It also designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. The company's residual business operations include project development activities, operations and maintenance services, and the sale of PV solar power systems to third-party customers. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona.

CEO

Mr. Mark R. Widmar

IPO

11/17/2006

Website

https://www.firstsolar.com

Employees

8,100

Sector

Technology

Industry

Solar