Q1 26 EPS
$3.22
BEAT +8.02%
Est. $2.98
Q1 26 Revenue
$1.04B
MISS 0.32%
Est. $1.05B
Did FSLR Beat Earnings? Q1 2026 Results
First Solar posted a stronger-than-expected first quarter in 2026, delivering earnings per diluted share of $3.22 against a consensus estimate of $2.98, a beat of 8.02%, even as revenue of $1.04 billion came in fractionally below the $1.05 billion th… Read more First Solar posted a stronger-than-expected first quarter in 2026, delivering earnings per diluted share of $3.22 against a consensus estimate of $2.98, a beat of 8.02%, even as revenue of $1.04 billion came in fractionally below the $1.05 billion the market had anticipated. Net sales climbed 23.6% year over year, propelled by higher module volumes sold to third parties, while net income surged 65% to $346.62 million as improved cost absorption and maturing new facilities drove meaningful margin expansion, with adjusted EBITDA reaching $519.81 million at a 50% margin. CEO Mark Widmar pointed to record first-quarter revenue and record sales in India, emphasizing the company's thin-film CdTe technology and independence from Chinese crystalline silicon supply chains as competitive advantages amid ongoing trade policy uncertainty. Institutional confidence in the solar manufacturer has also been evident, with major passive investors recently disclosing substantial ownership stakes. First Solar reaffirmed its full-year 2026 guidance, targeting net sales of $4.90 billion to $5.20 billion and adjusted EBITDA of $2.60 billion to $2.80 billion, supported by a contracted backlog of 47.9 GW.
Key Takeaways
- • Increased volume of modules sold to third parties driving 24% revenue growth
- • Meaningful gross margin expansion with gross profit rising to 46.6% of sales from 40.8%
- • Adjusted EBITDA margin expanded to 50% from 45% year-over-year
- • Record sales in India during the quarter
- • Lower production start-up costs as facilities mature
FSLR YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“We delivered a strong start to 2026, with record first-quarter revenue, record sales in India, meaningful margin expansion, and Adjusted EBITDA above the top end of our first quarter preview range.”
— Mark Widmar, Q1 2026 Earnings Press Release
FSLR Earnings Trends
FSLR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FSLR EPS Trend
Earnings per share: estimate vs actual
FSLR Revenue Trend
Quarterly revenue: estimate vs actual
FSLR Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $2.82 | $3.92 | +39.11% | $1.06B | -0.55% |
| Q1 26 BEAT | $2.98 | $3.22 | +8.02% | $1.04B | -0.32% |
| Q4 25 MISS FY | $5.17 | $4.84 | -6.34% | $1.68B | +7.27% |
| FY Full Year | $14.59 | $14.21 | -2.58% | $5.22B | +1.95% |
| Q3 25 MISS | $4.29 | $4.24 | -1.13% | $1.59B | +1.52% |
| Q2 25 BEAT | $2.62 | $3.18 | +21.26% | $1.10B | +5.98% |
| Q1 25 MISS | $2.47 | $1.95 | -21.01% | $844.6M | +0.01% |