First Solar, Inc. earnings overview

FSLR FY2026 Q1 · Calendar Q2 2026

First Solar, Inc.

First Solar delivered record first-quarter revenue of $1.04 billion, beating both EPS ($3.22 vs. $3.03 estimated) and revenue ($1.044B vs. $1.035B estimated) consensus. The quarter was driven by higher module volumes and Section 45X tax credit benefits, with adjusted EBITDA above the company's preview range. The successful launch of CURE thin-film technology -- which can generate up to $600 million in additional revenue from technology adders -- and the acquisition of perovskite IP from Oxford PV position First Solar for a next-generation product roadmap. However, U.S. bookings remain selective as management awaits clarity on Section 232/301 trade policy, and Southeast Asian factory underutilization continues to weigh on costs. The stock surged 4.9% on the print and drifted 43% higher over the subsequent period, suggesting the market increasingly prices in the technology and capacity…