First Solar Q1 sales rise as module purchase volumes increase

First Solar

30/04/2026 21:29

Overview

US solar module maker's Q1 2026 sales rose 24% yr/yr, meeting analyst expectations

Adjusted EPS for Q1 2026 rose 65% yr/yr to $3.22

Company reaffirmed 2026 guidance and cited record Q1 revenue, margin expansion

Outlook

First Solar reaffirms 2026 net sales guidance of $4.9 bln to $5.2 bln

Company expects Q2 2026 adjusted EBITDA between $400 mln and $500 mln

Outlook assumes current U.S. policy environment and permitting timelines remain unchanged

Result Drivers

HIGHER MODULE VOLUMES - Co said Q1 sales growth was driven primarily by increased volume of modules sold to third parties

RECORD SALES IN INDIA - Co reported record sales in India during the quarter

MARGIN EXPANSION - Co cited meaningful margin expansion as a contributor to Q1 results

Company press release: ID:nBw4QtBKla

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Meet
$1.04 bln
$1.04 bln (24 Analysts)
Q1 EPS
$3.22
Q1 Net Income
$346.62 mln
Q1 Gross Profit
$486.13 mln
Q1 Operating Expenses
$140.83 mln
Q1 Operating Income
$345.30 mln
Q1 Pretax Profit
$354.33 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 24 "strong buy" or "buy", 16 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

Wall Street's median 12-month price target for First Solar Inc is $243.00, about 27.5% above its April 29 closing price of $190.61

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)