First Solar, IncNasdaq: FSLR
Information Technology · Semiconductors
$212.31
+5.16%
Vol: 4.3M
Research Digest
Friday, May 1, 2026
First Solar reports record Q1 revenue of $1.04B with 24% YoY growth and 7.1% stock jump
First Solar announced record revenue of $1.04 billion in Q1 2026, reflecting 24% year-over-year growth. Reported diluted EPS of $3.22 significantly exceeded prior year. Gross margin improved to 46.6% reflecting lower logistics costs and Section 45X credits. Manufacturing issues in Series 7 modules resulted in $35-70 million estimated loss. Reaffirmed full-year guidance.
Previous Market Intelligence
13 daysApr 30First Solar will report Q1 earnings on April 30 with analysts expecting EPS of $2.83 and revenue of $1.05B (24.3% YoY growth), though Citi and Barclays cut price targets to $243 and $213 respectively.Mixed▶
First Solar reports Q1 earnings on April 30 with analyst expectations for EPS of $2.83 and revenue of $1.05B (24.3% YoY growth). The company shows strong profitability with 29.3% net profit margin but faces challenges from rising logistics costs and recent analyst sentiment shifts. Citi lowered PT to $243 from $300 (April 21) while Barclays cut to $213 from $228 (April 21), both citing concerns about margins and near-term performance. Insider activity shows $14.7M in insider selling over three months with no buying. Average analyst PT is $245.07 versus current $196.26. Company is advancing CuRe technology to improve efficiency.
Apr 29First Solar set to report Q1 2026 earnings April 30; consensus expects $2.83 EPS on $1.05B revenue but stock down 31% YTD on tariff uncertaintyNegative▶
First Solar is scheduled to announce Q1 2026 earnings on Thursday, April 30 after market close. Consensus EPS estimate is $2.83, with revenue estimate at $1.05B (+24.3% YoY). However, shares have declined approximately 31% this year over U.S. policy uncertainty including tariffs. Last quarter, company beat revenue expectations at $1.68B (+11.1% YoY) but delivered softer-than-expected guidance with full-year revenue and EBITDA guidance both missing analyst expectations significantly. This quarter expects revenue growth of 21.9% YoY. RBC Capital reiterated Outperform rating with $236 price target. Citi lowered target to $243 from $300 on April 21. As of March 2026, company had 14 GW of annual domestic nameplate capacity. Stock trades at $196.74 with $21.14B market cap.
Apr 16First Solar projects Q1 2026 EPS $5.22, up 43% YoY; stock down 1.66% despite positive earnings outlook.Neutral▶
First Solar projects Q1 2026 EPS of $5.22, representing 43% year-over-year increase, with revenue forecast of $1.57 billion, up 3.94% year-over-year. FY2026 Zacks consensus estimates forecast EPS of $14.61 and revenue of $5.11 billion, with EPS up 21.55% and revenue flat year-over-year. Stock closed at $239.68 on latest session, down 1.66%. First Solar is largest U.S. solar company using thin-film photovoltaic technology. Zacks Rank #3 Hold. KeyBanc reiterated Underweight rating January 22 with $150 price target. Perpetual Ltd reduced holdings by 65.2% in Q4 2025.
Apr 15First Solar faces headwinds from disappointing Q4 guidance; Jefferies downgrades to Hold amid booking visibility concerns.Negative▶
First Solar Q4 2025 EPS of $4.84 missed expectations of $5.22, though revenue of $1.7B exceeded forecasts. Jefferies downgraded from Buy to Hold, citing deteriorating forward booking visibility. Full-year 2025 net sales of $5.2B and diluted EPS of $14.21. 2026 guidance appears flat. Analyst consensus is Buy with $237.92 price target.
Apr 14First Solar announced 3.7GW U.S. finishing facility to reduce tariff exposure; stock down 1.53% on margin/logistics concerns.Negative▶
First Solar announced new 3.7GW U.S.-based finishing facility by late 2026 to shift final processing from Southeast Asia, reducing tariff exposure. Q4 earnings missed EPS ($4.84 vs $5.22 est.). Jefferies downgraded to Hold April 7 citing logistics cost inflation. Series 7 modules entered commercial operation. FY 2026 guidance: $4.9-5.2B revenue.
Apr 13First Solar Q4 earnings miss and flat 2026 guidance trigger 16% decline; Jefferies downgrades amid logistics cost inflation.Negative▶
First Solar reported FY 2025 revenue of $5.2B (+24% YoY) but FY 2026 guidance disappointed investors with flat-to-declining revenue. Q4 EPS of $4.84 missed consensus of $5.22. Jefferies downgraded from Buy to Hold (PT $187). Analyst consensus remains Buy with PT $237.92.
Apr 10First Solar announces 3.7GW U.S. finishing facility; Series 7 operationalNegative▶
Plans for 3.7GW U.S. finishing facility to reduce tariff exposure. Series 7 modules in commercial operation. But disappointing Q4 and flat 2026 guidance.
Apr 9First Solar reports flat 2026 guidance amid policy uncertainty and permitting delaysNegative▶
First Solar announced 2025 net sales of $5.2B and Q4 sales of $1.7B with 2026 guidance of $4.9-5.2B, adjusted EBITDA $2.6-2.8B, and volume of 17.0-18.2 GW. Company plans 3.7GW U.S. finishing facility to reduce tariff exposure. Series 7 modules now in commercial operation. Policy uncertainty and permitting delays cited as challenges, with guidance significantly below street expectations. Jefferies lowered price target from $205 to $187 on April 7, and Deutsche Bank downgraded to Hold from Buy.
Apr 8First Solar misses Q4 expectations and announces new U.S. solar cell finishing facility amid backlog concerns.Negative▶
FSLR missed Q4 EPS, topped revenue. Disclosed shrinking backlog and order cancellations. Dropped 12.7%. Jefferies lowered PT to $187 with Hold.
Apr 7First Solar Q4 Disappoints; Guidance Flat for 2026; New 3.7GW Facility PlannedNegative▶
First Solar reported disappointing Q4 results missing EPS expectations while topping revenue forecasts. Company provided flat guidance for 2026 amid shrinking contracted backlog and order cancellations. Announced plans for 3.7GW U.S. finishing facility to reduce tariff exposure and capture domestic tax incentives.
Apr 6First Solar misses Q4 earnings and delivers flat 2026 guidance, stock drops 12.7%.Negative▶
First Solar disappointed investors with a Q4 earnings miss, posting EPS of $4.84 versus the Zacks consensus estimate of $5.22, representing a -7.28% negative earnings surprise. The company issued flat guidance for 2026, prompting a 12.7% share price decline. Despite challenges, 2025 revenue reached $5.22 billion (+24.09% YoY) with earnings of $1.53 billion (+18.28% YoY). According to 27 analysts, the average rating remains "Buy" with a 12-month stock price target of $241.42 (+29.91% upside). The company continues to benefit from U.S. manufacturing initiatives supporting long-term growth.
Apr 3First Solar downgraded to Hold by Jefferies as flat 2026 guidance and cooling demand weigh on shares.Negative▶
First Solar shares fell 13% over five trading days following a disappointing Q4 earnings report and flat 2026 guidance. Jefferies downgraded to Hold from Buy amid deteriorating visibility into forward bookings. The company faces cooling demand and underutilized capacity in Malaysia/Vietnam. 27 analysts maintain average Buy with $241.42 target.
Apr 2First Solar drops 12.7% on flat 2026 guidance despite $5.2B revenue and Louisiana facility inaugurationNegative▶
First Solar reported 2025 net sales of $5.2 billion and fourth-quarter sales of $1.7 billion with diluted EPS of $14.21 and Q4 EPS of $4.84. The company faces challenges after disappointing Q4 earnings and flat guidance for 2026, though it maintains strong long-term growth supported by U.S. manufacturing initiatives. First Solar inaugurated a fully vertically integrated manufacturing facility in Louisiana and announced plans for Gaffney, South Carolina expansion, targeting 18 GW annual nameplate capacity by 2027. The company also entered a non-exclusive patent license with Oxford PV for perovskite PV development.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| FSLRFIRST | $212.31 | +5.16% | +3.2% | 8.3x | 1.61 | $21.7B |
| NVDANVIDIA | $198.66 | -0.46% | +12.3% | 17.8x | 2.33 | $4.85T |
| AVGOBROADCOM | $420.41 | +0.71% | +32.8% | 23.0x | 1.25 | $1.98T |
| MUMICRON | $541.19 | +4.65% | +36.9% | 5.1x | 1.61 | $583.2B |
| AMDADVANCED | $360.21 | +1.61% | +61.0% | 32.0x | 1.96 | $578.0B |
| INTCINTEL | $99.64 | +5.46% | +86.1% | 63.8x | 1.35 | $474.9B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.