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First Solar's Q3 Earnings Beat Estimates, Revenues Decrease Y/Y
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Key Takeaways
First Solar's Q3 earnings rose 25% to $5.30 per share, beating estimates, while revenues fell 23% to $1.23B.
FSLR's gross profit climbed 16.8% to $713M, with operating income rising to $546.1M from $466.1M.
FSLR cut its 2026 sales outlook to $4.60B-$4.90B and lowered its module shipment forecast to 16-17 GW.
First Solar, Inc. (FSLR - Free Report) reported third-quarter 2026 earnings of $5.30 per share, which beat the Zacks Consensus Estimate of $4.64 by 14.2%. The bottom line increased 25% from $4.24 in the year-ago quarter, aided by higher gross profit and improved operating performance.
FSLR’s Sales Update
Net sales of $1.23 billion missed the consensus estimate of $1.313 billion by 6.2% and declined 23% year over year.
Contracted sales backlog stood at 44.0 gigawatts as of Sept. 30, 2026.
First Solar, Inc. Price, Consensus and EPS Surprise
In the third quarter, the company’s gross profit was $713 million, which rose 16.8% from $610.7 million in the year-ago quarter.
Total operating expenses jumped 15.4% year over year to $167 million.
FSLR reported an operating income of $546.1 million compared with $466.1 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $1.58 billion in cash and cash equivalents as of Sept. 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 $402.7 million during the first nine months of 2026 against net cash provided by operating activities of $815.2 million in the year-ago period.
First Solar’s 2026 Guidance
FSLR now expects its sales to be in the range of $4.60-$4.90 billion, down from its previous guidance of $4.90-$5.20 billion. The Zacks Consensus Estimate for sales is pegged at $5.07 billion, which lies above the company's guided range.
First Solar still expects gross profit to be in the band of $2.40-$2.60 billion. Its operating expenses are anticipated to remain in the $610-$635 million range.
First Solar projects module shipments to be in the band of 16-17 gigawatts, down from its previous projection of 17-18.2 gigawatts. The company now expects its 2026 capital expenditure to be in the range of $0.60-$0.80 billion compared with its earlier expectation of $0.80-$1.00 billion.
FSLR’s Zacks Rank
First Solar currently carries a Zacks Rank #3 (Hold).
Enphase Energy, Inc. (ENPH - Free Report) reported third-quarter 2026 adjusted earnings of 41 cents per share, which missed the Zacks Consensus Estimate of 47 cents by 12.8%. The bottom line declined 54.4% from 90 cents in the year-ago quarter.
Enphase Energy's third-quarter revenues of $293.3 million lagged the Zacks Consensus Estimate of $304 million by 3.4%. The top line also dropped 28.5% from the prior-year quarter's reported figure of $410.4 million.
Upcoming Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report third-quarter 2026 results on Nov. 4, before market open. The Zacks Consensus Estimate for SEDG’s third-quarter earnings is pegged at two cents per share.
The Zacks Consensus Estimate for SEDG’s third-quarter sales is pegged at $329.1 million.
Array Technologies (ARRY - Free Report) is slated to report third-quarter 2026 results on Nov. 5, after market close. The Zacks Consensus Estimate for ARRY’s third-quarter earnings is pegged at 10 cents per share.
The Zacks Consensus Estimate for ARRY’s third-quarter sales is pegged at $322.2 million.
View the Zacks #1 Rank List
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First Solar's Q3 Earnings Beat Estimates, Revenues Decrease Y/Y
Key Takeaways
First Solar, Inc. (FSLR - Free Report) reported third-quarter 2026 earnings of $5.30 per share, which beat the Zacks Consensus Estimate of $4.64 by 14.2%. The bottom line increased 25% from $4.24 in the year-ago quarter, aided by higher gross profit and improved operating performance.
FSLR’s Sales Update
Net sales of $1.23 billion missed the consensus estimate of $1.313 billion by 6.2% and declined 23% year over year.
Contracted sales backlog stood at 44.0 gigawatts as of Sept. 30, 2026.
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 third quarter, the company’s gross profit was $713 million, which rose 16.8% from $610.7 million in the year-ago quarter.
Total operating expenses jumped 15.4% year over year to $167 million.
FSLR reported an operating income of $546.1 million compared with $466.1 million in the year-ago quarter.
Financial Performance of First Solar
First Solar had $1.58 billion in cash and cash equivalents as of Sept. 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 $402.7 million during the first nine months of 2026 against net cash provided by operating activities of $815.2 million in the year-ago period.
First Solar’s 2026 Guidance
FSLR now expects its sales to be in the range of $4.60-$4.90 billion, down from its previous guidance of $4.90-$5.20 billion. The Zacks Consensus Estimate for sales is pegged at $5.07 billion, which lies above the company's guided range.
First Solar still expects gross profit to be in the band of $2.40-$2.60 billion. Its operating expenses are anticipated to remain in the $610-$635 million range.
First Solar projects module shipments to be in the band of 16-17 gigawatts, down from its previous projection of 17-18.2 gigawatts. The company now expects its 2026 capital expenditure to be in the range of $0.60-$0.80 billion compared with its earlier expectation of $0.80-$1.00 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 third-quarter 2026 adjusted earnings of 41 cents per share, which missed the Zacks Consensus Estimate of 47 cents by 12.8%. The bottom line declined 54.4% from 90 cents in the year-ago quarter.
Enphase Energy's third-quarter revenues of $293.3 million lagged the Zacks Consensus Estimate of $304 million by 3.4%. The top line also dropped 28.5% from the prior-year quarter's reported figure of $410.4 million.
Upcoming Solar Releases
SolarEdge Technologies, Inc. (SEDG - Free Report) is slated to report third-quarter 2026 results on Nov. 4, before market open. The Zacks Consensus Estimate for SEDG’s third-quarter earnings is pegged at two cents per share.
The Zacks Consensus Estimate for SEDG’s third-quarter sales is pegged at $329.1 million.
Array Technologies (ARRY - Free Report) is slated to report third-quarter 2026 results on Nov. 5, after market close. The Zacks Consensus Estimate for ARRY’s third-quarter earnings is pegged at 10 cents per share.
The Zacks Consensus Estimate for ARRY’s third-quarter sales is pegged at $322.2 million.