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First Solar's Q4 Earnings Lag Estimates, Revenues Surpass
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Key Takeaways
FSLR's Q4 net sales rose 11.1% year over year to $1.68B, beating estimates by 7%.
First Solar generated $2.06B in operating cash flow in 2025, up from $1.22B in 2024.
FSLR expects 2026 module shipments of 17-18.2 gigawatts and capex of $0.8-$1B.
First Solar, Inc. (FSLR - Free Report) reported fourth-quarter 2025 earnings of $4.84 per share, which missed the Zacks Consensus Estimate of $5.22 by 7.2%. The bottom line increased 32.6% from the prior-year quarter’s figure of $3.65.
The company reported 2025 earnings of $14.21 per share, which were higher than the year-ago figure of $12.02.
FSLR’s Sales Update
First Solar’s fourth-quarter net sales were $1.68 billion, which beat the Zacks Consensus Estimate by 7%. The top line rose 11.1% from the year-ago quarter’s $1.51 billion.
The year-over-year top-line improvement was driven by an increase in the volume of module sales.
The company reported net sales of $5.22 billion in 2025, which were higher than $4.21 billion in 2024.
First Solar, Inc. Price, Consensus and EPS Surprise
In the fourth quarter, the company’s gross profit was $665.3 million, which rose 17.2% from $567.7 million in the year-ago quarter.
Total operating expenses jumped 5.9% year over year to $117.4 million.
FSLR reported an operating income of $547.9 million compared with $456.8 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $2.8 billion in cash and cash equivalents as of Dec. 31, 2025, up from $1.62 billion as of Dec. 31, 2024.
The long-term debt totaled $282.6 million as of the same date compared with $373.4 million as of Dec. 31, 2024.
The net cash flow from operating activities amounted to $2.06 billion during 2025 compared with $1.22 billion at the end of 2024.
First Solar’s 2026 Guidance
First Solar introduced its 2026 guidance. FSLR expects its sales to be in the range of $4.9-$5.2 billion. The Zacks Consensus Estimate for sales is pegged at $6.21 billion, which lies above the company’s guided range.
First Solar expects gross margin to be in the band of $2.4-$2.6 billion. Its operating expenses are anticipated to be in the $610-$635 million range.
First Solar projects module shipments to be in the band of 17-18.2 gigawatts. The company expects its 2026 capital expenditure to be in the range of $0.8-$1 billion.
SolarEdge Technologies, Inc. (SEDG - Free Report) reported a fourth-quarter 2025 adjusted loss of 14 cents per share, narrower than the Zacks Consensus Estimate of a loss of 63 cents. The bottom line also improved from the prior-year quarter’s loss of $3.52.
The company’s revenues of $335.4 million surpassed the Zacks Consensus Estimate of $325 million by 3.2%. The top line also increased 70.9% from the year-ago quarter’s $196.2 million.
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2025 adjusted earnings of 71 cents per share, which decreased 24.5% from 94 cents reported in the prior-year quarter. However, the bottom line topped the Zacks Consensus Estimate of 54 cents by 31.5%.
Enphase Energy’s fourth-quarter revenues of $343.3 million beat the Zacks Consensus Estimate of $335 million by 2.6%. The top line decreased 10.3% from the prior-year quarter’s reported figure of $382.7 million.
Nextracker Inc. (NXT - Free Report) reported third-quarter fiscal 2026 adjusted earnings of $1.10 per share, which outpaced the Zacks Consensus Estimate by 18.3% and came in higher than the year-ago quarter’s earnings of $1.03.
Its revenues, worth $909.4 million, also surpassed the consensus estimate by 12.5% and improved 33.9% from the prior-year quarter’s reported revenues.
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First Solar's Q4 Earnings Lag Estimates, Revenues Surpass
Key Takeaways
First Solar, Inc. (FSLR - Free Report) reported fourth-quarter 2025 earnings of $4.84 per share, which missed the Zacks Consensus Estimate of $5.22 by 7.2%. The bottom line increased 32.6% from the prior-year quarter’s figure of $3.65.
The company reported 2025 earnings of $14.21 per share, which were higher than the year-ago figure of $12.02.
FSLR’s Sales Update
First Solar’s fourth-quarter net sales were $1.68 billion, which beat the Zacks Consensus Estimate by 7%. The top line rose 11.1% from the year-ago quarter’s $1.51 billion.
The year-over-year top-line improvement was driven by an increase in the volume of module sales.
The company reported net sales of $5.22 billion in 2025, which were higher than $4.21 billion in 2024.
First Solar, Inc. Price, Consensus and EPS Surprise
First Solar, Inc. price-consensus-eps-surprise-chart | First Solar, Inc. Quote
Operational Highlights of FSLR
In the fourth quarter, the company’s gross profit was $665.3 million, which rose 17.2% from $567.7 million in the year-ago quarter.
Total operating expenses jumped 5.9% year over year to $117.4 million.
FSLR reported an operating income of $547.9 million compared with $456.8 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $2.8 billion in cash and cash equivalents as of Dec. 31, 2025, up from $1.62 billion as of Dec. 31, 2024.
The long-term debt totaled $282.6 million as of the same date compared with $373.4 million as of Dec. 31, 2024.
The net cash flow from operating activities amounted to $2.06 billion during 2025 compared with $1.22 billion at the end of 2024.
First Solar’s 2026 Guidance
First Solar introduced its 2026 guidance. FSLR expects its sales to be in the range of $4.9-$5.2 billion. The Zacks Consensus Estimate for sales is pegged at $6.21 billion, which lies above the company’s guided range.
First Solar expects gross margin to be in the band of $2.4-$2.6 billion. Its operating expenses are anticipated to be in the $610-$635 million range.
First Solar projects module shipments to be in the band of 17-18.2 gigawatts. The company expects its 2026 capital expenditure to be in the range of $0.8-$1 billion.
FSLR’s Zacks Rank
First Solar currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) reported a fourth-quarter 2025 adjusted loss of 14 cents per share, narrower than the Zacks Consensus Estimate of a loss of 63 cents. The bottom line also improved from the prior-year quarter’s loss of $3.52.
The company’s revenues of $335.4 million surpassed the Zacks Consensus Estimate of $325 million by 3.2%. The top line also increased 70.9% from the year-ago quarter’s $196.2 million.
Enphase Energy, Inc. (ENPH - Free Report) reported fourth-quarter 2025 adjusted earnings of 71 cents per share, which decreased 24.5% from 94 cents reported in the prior-year quarter. However, the bottom line topped the Zacks Consensus Estimate of 54 cents by 31.5%.
Enphase Energy’s fourth-quarter revenues of $343.3 million beat the Zacks Consensus Estimate of $335 million by 2.6%. The top line decreased 10.3% from the prior-year quarter’s reported figure of $382.7 million.
Nextracker Inc. (NXT - Free Report) reported third-quarter fiscal 2026 adjusted earnings of $1.10 per share, which outpaced the Zacks Consensus Estimate by 18.3% and came in higher than the year-ago quarter’s earnings of $1.03.
Its revenues, worth $909.4 million, also surpassed the consensus estimate by 12.5% and improved 33.9% from the prior-year quarter’s reported revenues.