FIRST SOLAR, INC. Q3 FY26 Results

Summary

First Solar announced its third quarter 2026 financial results, reporting net sales of $1.23 billion, a 23% decrease year-over-year, primarily due to lower module volumes sold to third parties. Despite the revenue decline, net income per diluted share rose 25% to $5.30, and Adjusted EBITDA increased 11% to $744 million. The company also announced a new $500 million share repurchase program, reflecting confidence in its long-term value. First Solar updated its 2026 guidance, projecting lower net sales and volume sold compared to prior guidance.

Key Highlights

1. 1

   First Solar reported net sales of $1.23 billion for the third quarter of 2026, a decrease of 23% year-over-year.

2. 2

   Net income per diluted share increased by 25% year-over-year to $5.30 for the third quarter of 2026.

3. 3

   Adjusted EBITDA for the third quarter of 2026 was $744 million, an increase of 11% compared to the same period in 2025.

4. 4

   The Company maintained a gross cash balance of $1.6 billion and a net cash balance of $1.5 billion as of September 30, 2026.

5. 5

   First Solar's board of directors has authorized a new share repurchase program of up to $500 million.

6. 6

   The contracted sales backlog stood at 44.0 GW as of September 30, 2026.