Quarterly ResultApr 30, 2026, 04:18 PM
FSLR Q1 Net Sales +23.6% to $1.04B; Net Income +65.4% to $346.6M; EPS $3.22
AI Summary
First Solar, Inc. reported strong first-quarter 2026 financial results, with net sales increasing 23.6% to $1.04 billion and net income surging 65.4% to $346.6 million. Diluted earnings per share reached $3.22, significantly up from $1.95 in the prior year period. The company also saw a substantial improvement in net cash used in operating activities and continued to benefit from Section 45X tax credits, receiving $117.6 million during the quarter.
Key Highlights
- Net sales increased 23.6% to $1,044.2 million for the three months ended March 31, 2026.
- Net income grew 65.4% to $346.6 million for the three months ended March 31, 2026.
- Diluted EPS rose to $3.22 in Q1 2026 from $1.95 in Q1 2025.
- Operating income increased 56.1% to $345.3 million for the three months ended March 31, 2026.
- Net cash used in operating activities improved to $(214.9) million from $(608.0) million year-over-year.
- Received $117.6 million from the U.S. Department of the Treasury for Section 45X tax credits in Q1 2026.
- Total stockholders' equity reached $9.88 billion as of March 31, 2026, up from $9.54 billion at December 31, 2025.
- Property, plant and equipment, net was $5.67 billion as of March 31, 2026.
Price Impact
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