Quarterly ResultJul 30, 2026, 04:14 PM
First Solar Q2 Net Income $422.6M, EPS $3.92; Debt Reduced to $0
AI Summary
First Solar reported strong financial results for the second quarter and first six months of 2026, with significant increases in net income and diluted EPS. The company successfully reduced its long-term debt to zero. Additionally, First Solar benefited from government grants, including receiving $117.6 million in Section 45X tax credits and initiating recovery of IEEPA tariffs.
Key Highlights
- Q2 2026 Net Income increased to $422.6 million, up from $341.9 million YoY.
- Q2 2026 Diluted EPS grew to $3.92, compared to $3.18 in the prior year.
- Long-term debt was reduced to $0 as of June 30, 2026, from $282.6 million.
- Six-month 2026 Net Sales reached $2.10 billion, up from $1.94 billion YoY.
- Six-month 2026 Net Income increased to $769.2 million, up from $551.4 million YoY.
- Received $117.6 million from U.S. Treasury for 2024 Section 45X tax credits.
- Submitted eligible refund claims for IEEPA tariffs and began receiving payments.
- Net cash used in operating activities decreased to $359.8 million for H1 2026.
Price Impact
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