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First Solar's Q2 Earnings Beat Estimates, Revenues Decrease Y/Y
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Key Takeaways
First Solar beat Q2 earnings estimates as gross margin expansion lifted year-over-year profit.
FSLR posted lower year-over-year sales but maintained a 45.1-gigawatt contracted backlog through 2030.
First Solar reaffirmed 2026 sales, gross profit, module shipment and capital expenditure guidance.
First Solar, Inc. (FSLR - Free Report) reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter, aided by gross-margin expansion and a stronger mix of U.S.-made modules.
FSLR’s Sales Update
Net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.
Contracted backlog stood at 45.1 gigawatts, valued at about $13.6 billion, through 2030.
First Solar, Inc. Price, Consensus and EPS Surprise
In the second quarter, the company’s gross profit was $605 million, which rose 21% from $499.9 million in the year-ago quarter.
Total operating expenses jumped 11.8% year over year to $154.6 million.
FSLR reported an operating income of $450.4 million compared with $361.6 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $1.69 billion in cash and cash equivalents as of June 30, 2026, down from $2.80 billion as of Dec. 31, 2025.
The company had no long-term debt as of the same date compared with $282.6 million as of Dec. 31, 2025.
Net cash used in operating activities amounted to $359.8 million during the first six months of 2026 compared with $458.4 million in the year-ago period.
First Solar’s 2026 Guidance
FSLR still 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 still 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 #4 (Sell).
Enphase Energy, Inc. (ENPH - Free Report) reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.
Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.
Upcoming Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s second-quarter earnings is pegged at four cents per share.
The Zacks Consensus Estimate for SEDG’s second-quarter sales is pegged at $341.7 million, implying a year-over-year improvement of 18%.
Array Technologies (ARRY - Free Report) is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for ARRY’s second-quarter earnings is pegged at 11 cents per share.
The Zacks Consensus Estimate for ARRY’s second-quarter sales is pegged at $323.8 million.
View the Zacks #1 Rank List
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First Solar's Q2 Earnings Beat Estimates, Revenues Decrease Y/Y
Key Takeaways
First Solar, Inc. (FSLR - Free Report) reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter, aided by gross-margin expansion and a stronger mix of U.S.-made modules.
FSLR’s Sales Update
Net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.
Contracted backlog stood at 45.1 gigawatts, valued at about $13.6 billion, through 2030.
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 second quarter, the company’s gross profit was $605 million, which rose 21% from $499.9 million in the year-ago quarter.
Total operating expenses jumped 11.8% year over year to $154.6 million.
FSLR reported an operating income of $450.4 million compared with $361.6 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $1.69 billion in cash and cash equivalents as of June 30, 2026, down from $2.80 billion as of Dec. 31, 2025.
The company had no long-term debt as of the same date compared with $282.6 million as of Dec. 31, 2025.
Net cash used in operating activities amounted to $359.8 million during the first six months of 2026 compared with $458.4 million in the year-ago period.
First Solar’s 2026 Guidance
FSLR still 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 still 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 #4 (Sell).
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 second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.
Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million.
Upcoming Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s second-quarter earnings is pegged at four cents per share.
The Zacks Consensus Estimate for SEDG’s second-quarter sales is pegged at $341.7 million, implying a year-over-year improvement of 18%.
Array Technologies (ARRY - Free Report) is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for ARRY’s second-quarter earnings is pegged at 11 cents per share.
The Zacks Consensus Estimate for ARRY’s second-quarter sales is pegged at $323.8 million.