FSLRFirst Solar Inc
Earnings Recap
• Reported GAAP EPS of $3.23 up 64.80% YoY • Reported revenue of $1.04B up 23.64% YoY • First Solar reaffirmed its 2026 guidance, expecting net sales between $4.9 billion and $5.2 billion, Adjusted EBITDA between $2.6 billion and $2.8 billion, and capital expenditures from $0.8 billion to $1.0 billion.
Bullish
First Solar achieved strong Q1 2026 results with 24% net sales growth and 65% diluted EPS increase, supported by a 47.9 GW backlog. The company benefits from differentiated technology and a domestic manufacturing footprint.
Bearish
First Solar's net cash balance decreased due to capital expenditures and working capital. The company also faces risks from global PV module supply imbalances, supply chain disruptions, and potential changes in government subsidies.