First Solar (NASDAQ:FSLR) Releases Earnings Results

First Solar (NASDAQ:FSLR) posted its quarterly earnings results on Thursday. The solar cell manufacturer reported $5.30 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.63, FiscalAI reports. First Solar had a return on equity of 18.02% and a net margin of 32.47%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period last year, the firm earned $4.24 earnings per share. The business’s quarterly revenue was down 22.8% on a year-over-year basis.

Here are the key takeaways from First Solar’s conference call:

• Strong third-quarter financial performance: Net sales were approximately $1.2 billion, gross margin expanded to about 58%, adjusted EBITDA reached $744 million, and diluted EPS rose to $5.30, supported by a higher mix of U.S.-produced modules.
• First Solar ended the quarter with a substantial 44 GW backlog valued at approximately $13.5 billion and is pursuing higher pricing and stronger contractual protections as post-Section 232 price discovery develops.
• The company believes it is structurally positioned to benefit from U.S. policies favoring domestic, non-Chinese-dependent solar manufacturing, while AI-related electricity demand, data-center expansion, and electrification support long-term demand. The board also authorized a $500 million share repurchase program.
• Bookings have moderated as customers focus on near-term projects and await clarity on Section 232 implementation, FEOC rules, tariffs, permitting, and project economics. First Solar also lowered the 2026 outlook for certain India, international Series 6, and U.S. finishing volumes, while its Malaysia facility faces a binary full-operation-or-shutdown decision in the first half of 2027.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $5.44 during mid-day trading on Friday, hitting $171.45. The stock had a trading volume of 1,427,005 shares, compared to its average volume of 2,343,281. The company has a 50 day moving average of $189.51 and a two-hundred day moving average of $216.51. First Solar has a twelve month low of $165.86 and a twelve month high of $320.95. The firm has a market cap of $18.42 billion, a PE ratio of 10.56, a PEG ratio of 0.48 and a beta of 1.80.

Insider Buying and Selling at First Solar

In related news, CTO Markus Gloeckler sold 800 shares of First Solar stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $174.00, for a total transaction of $139,200.00. Following the completion of the transaction, the chief technology officer directly owned 5,042 shares in the company, valued at approximately $877,308. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason Dymbort sold 3,700 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total value of $922,706.00. Following the transaction, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. This represents a 39.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,681 shares of company stock worth $3,756,286 over the last ninety days. 0.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FSLR has been the topic of a number of research analyst reports. Needham & Company LLC decreased their target price on First Solar from $303.00 to $236.00 and set a “buy” rating on the stock in a research report on Friday. Argus reiterated a “buy” rating and set a $275.00 target price on shares of First Solar in a research report on Wednesday, August 26th. BMO Capital Markets reissued an “outperform” rating and issued a $255.00 target price on shares of First Solar in a report on Friday. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $256.00 to $252.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, HC Wainwright assumed coverage on shares of First Solar in a research note on Thursday, August 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $257.20.

Key Stories Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: First Solar reported third-quarter adjusted earnings of $5.30 per share, above the roughly $4.64–$4.67 analyst consensus and up from $4.24 a year earlier. Cost controls and strong margins helped produce the earnings beat. First Solar Tops Q3 Earnings Estimates
• Positive Sentiment: The company authorized a $500 million share-repurchase program, which could support per-share earnings and signal management’s confidence in the long-term business outlook. First Solar Announces Third Quarter Results and Buyback
• Positive Sentiment: First Solar signed a non-exclusive U.S. patent licensing agreement with CubicPV covering perovskite technology, potentially expanding its future solar-product development options. First Solar and CubicPV Patent Licensing Agreement
• Positive Sentiment: Needham maintained a “buy” rating, although it reduced its price target to $236 from $303, leaving substantial implied upside from recent trading levels.
• Neutral Sentiment: First Solar inaugurated the first phase of its South Carolina facility. The approximately $330 million project is expected to reach 3.4 gigawatts of annual capacity after its second phase is completed in 2027, strengthening domestic manufacturing capacity but requiring significant investment. First Solar South Carolina Facility
• Negative Sentiment: Third-quarter revenue fell 22.8% year over year to $1.23 billion, missing the $1.29 billion consensus. Management also cut its 2026 outlook as customer decisions were delayed and demand weakened, overshadowing the EPS beat. FSLR Q3 Earnings Call Highlights
• Negative Sentiment: Analysts responded by lowering estimates and price targets. GLJ Research downgraded FSLR to “hold” with a $161 target, while Bernstein cut its target to $169 and retained an “underperform” rating. Higher interest rates also remain a risk for solar-project economics.

First Solar Company Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.