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First Solar's Q1 Earnings Beat Estimates, Revenues Increase Y/Y
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Key Takeaways
FSLR Q1 EPS was $3.22, up 65.1% Y/Y, beating the $2.87 consensus estimate by 12.1%.
FSLR Q1 net sales rose 23.6% Y/Y to $1.04B, driven by higher module sales volumes.
FSLR guided 2026 sales of $4.9-$5.2B and module shipments of 17-18.2 gigawatts.
First Solar, Inc. (FSLR - Free Report) reported first-quarter 2026 earnings of $3.22 per share, which beat the Zacks Consensus Estimate of $2.87 by 12.1%. The bottom line increased 65.1% from the prior-year quarter’s figure of $1.95.
FSLR’s Sales Update
First Solar’s first-quarter net sales were $1.04 billion, which missed the Zacks Consensus Estimate by 0.1%. However, the top line rose 23.6% from the year-ago quarter’s $0.84 billion.
First Solar, Inc. Price, Consensus and EPS Surprise
In the first quarter, the company’s gross profit was $486.1 million, which rose 41.2% from $344.4 million in the year-ago quarter.
Total operating expenses jumped 14.3% year over year to $140.8 million.
FSLR reported an operating income of $345.3 million compared with $221.2 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $2.36 billion in cash and cash equivalents as of March 31, 2026, down from $2.8 billion as of Dec. 31, 2025.
The long-term debt totaled $237.2 million as of the same date compared with $282.6 million as of Dec. 31, 2025.
Net cash provided by operating activities amounted to $214.9 million during the first three months of 2026 compared with $608 million in the year-ago quarter.
First Solar’s 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 $5.07 billion, which lies above the midpoint of the company’s guided range.
First Solar expects gross profit 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.
Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2026 adjusted earnings of 47 cents per share, which decreased 30.9% from 68 cents reported in the prior-year quarter. However, the bottom line topped the Zacks Consensus Estimate of 43 cents by 8.2%.
Enphase Energy’s first-quarter revenues of $282.9 million missed the Zacks Consensus Estimate of $284 million by 0.2%. The top line also decreased 28.6% from the prior-year quarter’s reported figure of $356.1 million.
Upcoming Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report first-quarter 2026 results on May 6, before market open. The Zacks Consensus Estimate for SEDG’s first-quarter earnings is pegged at a loss of 23 cents per share.
The Zacks Consensus Estimate for SEDG’s first-quarter sales is pegged at $303.4 million, implying a year-over-year improvement of 38.2%.
Canadian Solar Inc. (CSIQ - Free Report) is slated to report first-quarter 2026 results on May 14, before market open. The Zacks Consensus Estimate for CSIQ’s first-quarter earnings is pegged at a loss of $1.08 per share.
The Zacks Consensus Estimate for CSIQ’s first-quarter sales is pegged at $947.6 million.
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First Solar's Q1 Earnings Beat Estimates, Revenues Increase Y/Y
Key Takeaways
First Solar, Inc. (FSLR - Free Report) reported first-quarter 2026 earnings of $3.22 per share, which beat the Zacks Consensus Estimate of $2.87 by 12.1%. The bottom line increased 65.1% from the prior-year quarter’s figure of $1.95.
FSLR’s Sales Update
First Solar’s first-quarter net sales were $1.04 billion, which missed the Zacks Consensus Estimate by 0.1%. However, the top line rose 23.6% from the year-ago quarter’s $0.84 billion.
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 first quarter, the company’s gross profit was $486.1 million, which rose 41.2% from $344.4 million in the year-ago quarter.
Total operating expenses jumped 14.3% year over year to $140.8 million.
FSLR reported an operating income of $345.3 million compared with $221.2 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $2.36 billion in cash and cash equivalents as of March 31, 2026, down from $2.8 billion as of Dec. 31, 2025.
The long-term debt totaled $237.2 million as of the same date compared with $282.6 million as of Dec. 31, 2025.
Net cash provided by operating activities amounted to $214.9 million during the first three months of 2026 compared with $608 million in the year-ago quarter.
First Solar’s 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 $5.07 billion, which lies above the midpoint of the company’s guided range.
First Solar expects gross profit 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 Release
Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter 2026 adjusted earnings of 47 cents per share, which decreased 30.9% from 68 cents reported in the prior-year quarter. However, the bottom line topped the Zacks Consensus Estimate of 43 cents by 8.2%.
Enphase Energy’s first-quarter revenues of $282.9 million missed the Zacks Consensus Estimate of $284 million by 0.2%. The top line also decreased 28.6% from the prior-year quarter’s reported figure of $356.1 million.
Upcoming Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report first-quarter 2026 results on May 6, before market open. The Zacks Consensus Estimate for SEDG’s first-quarter earnings is pegged at a loss of 23 cents per share.
The Zacks Consensus Estimate for SEDG’s first-quarter sales is pegged at $303.4 million, implying a year-over-year improvement of 38.2%.
Canadian Solar Inc. (CSIQ - Free Report) is slated to report first-quarter 2026 results on May 14, before market open. The Zacks Consensus Estimate for CSIQ’s first-quarter earnings is pegged at a loss of $1.08 per share.
The Zacks Consensus Estimate for CSIQ’s first-quarter sales is pegged at $947.6 million.