First Solar (NASDAQ:FSLR) Announces Quarterly Earnings Results

First Solar (NASDAQ:FSLR) issued its quarterly earnings data on Thursday. The solar cell manufacturer reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.93, FiscalAI reports. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.18 earnings per share.

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

• Record quarterly performance: First Solar reported more than $1 billion in Q2 sales, approximately 57% gross margin, $423 million in net income, and $644 million in adjusted EBITDA, while cumulative module sales surpassed 100 gigawatts.
• Contracted backlog stood at 45.1 gigawatts worth $13.6 billion, with deliveries extending through 2030; the company also added approximately 1.9 gigawatts of U.S. bookings at about $0.36 per watt and cited strong demand from hyperscaler-related projects.
• First Solar reaffirmed its full-year 2026 guidance and said its South Carolina finishing facility remains on track to begin production in the second half of 2026. CuRe technology is outperforming expectations, with its broader deployment expected to support efficiency, customer value, and margins.
• Trade-policy uncertainty remains a key risk. The company is awaiting decisions on the Section 232 polysilicon and derivatives investigation, FEOC rules, and other tariffs before determining the long-term use of approximately 1.8 gigawatts of Southeast Asian capacity, which is currently generating about $30 million per quarter in underutilization costs.
• First Solar continues to face elevated input and logistics costs, including domestic freight that can approach international shipping economics; management described the commodity-cost environment as challenging despite ongoing efforts to improve throughput, automation, and product efficiency.

First Solar Trading Up 3.5%

NASDAQ FSLR traded up $7.20 on Friday, hitting $213.21. 2,226,946 shares of the company were exchanged, compared to its average volume of 2,357,639. The company’s 50 day moving average price is $246.02 and its 200-day moving average price is $225.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The firm has a market capitalization of $22.91 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 0.44 and a beta of 1.73. First Solar has a twelve month low of $171.99 and a twelve month high of $320.95.

First Solar News Roundup

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

• Positive Sentiment: First Solar reported second-quarter adjusted earnings of $3.92 per share, well above the roughly $2.99 analyst consensus and up from $3.18 a year earlier. Gross margin expanded to approximately 57%, while net income rose to $423 million. First Solar Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Management highlighted a record contracted backlog of 45.1 gigawatts, a 100-gigawatt production milestone, U.S. manufacturing expansion and technology investments. The backlog provides demand visibility through 2030 and could benefit from policy support for domestic solar manufacturing. FSLR Q2 Earnings Call Highlights Domestic Solar Push
• Positive Sentiment: Goldman Sachs reiterated a Buy rating with a $310 price target, and Needham maintained Buy with a $303 target. The analysts cited the earnings beat, attractive valuation and potential support from Section 232 trade measures. First Solar Buy Rating and Price Target
• Neutral Sentiment: First Solar reaffirmed 2026 revenue guidance of $4.9 billion to $5.2 billion, broadly consistent with expectations. However, the midpoint is slightly below the approximately $5.1 billion consensus, limiting the upside from the outlook. First Solar Reaffirms Guidance
• Negative Sentiment: Second-quarter sales fell about 4% year over year to $1.06 billion, as customer contract cancellations offset higher third-party module sales. Investors also remain focused on Section 232 tariff uncertainty and rising input costs. First Solar Sales Fall on Contract Cancellations
• Negative Sentiment: Several law firms publicized a securities class-action lawsuit alleging misleading disclosures about tariff impacts and international production challenges. The allegations create a legal overhang, although they have not been proven. First Solar Securities Class Action Notice

Analyst Ratings Changes

A number of brokerages recently commented on FSLR. The Goldman Sachs Group increased their price target on First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Mizuho set a $237.00 price target on shares of First Solar in a research report on Friday. HSBC increased their price objective on shares of First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a report on Tuesday, May 5th. Finally, Argus boosted their target price on shares of First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.86.

Insider Buying and Selling

In related news, CFO Alexander R. Bradley sold 498 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the transaction, the chief financial officer directly owned 30,712 shares of the company’s stock, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of First Solar stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $275.60, for a total value of $2,929,076.80. Following the sale, the insider directly owned 23,792 shares of the company’s stock, valued at approximately $6,557,075.20. The trade was a 30.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 31,893 shares of company stock valued at $7,893,775. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

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

First Solar Company Profile

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.