First Solar Q4 revenue beats expectations, driven by module sales

First Solar

24/02/2026 21:23

Overview

Solar technology firm reported Q4 revenue of $1.7 bln on increased module sales, beating analyst expectations

Net income rose to $520.9 mln

Company ended 2025 with a net cash balance of $2.4 bln

Outlook

First Solar forecasts 2026 net sales between $4.9 bln and $5.2 bln

Company expects 2026 adjusted EBITDA of $2.6 bln to $2.8 bln

First Solar projects 2026 year-end net cash balance of $1.7 bln to $2.3 bln

Result Drivers

MODULE SALES - Increased volume of modules sold drove Q4 revenue growth

TAX CREDITS - Sale of Section 45X tax credits contributed to higher net cash balance

Company press release: ID:nBw9hPfmma

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Beat
$1.68 bln
$1.56 bln (27 Analysts)
Q4 EPS
$4.84
Q4 Net Income
$520.88 mln
Q4 Gross Profit
$665.34 mln
Q4 Operating Expenses
$117.42 mln
Q4 Operating Income
$547.92 mln
Q4 Pretax Profit
$551.34 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 32 "strong buy" or "buy", 10 "hold" and 1 "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 $282.50, about 16.7% above its February 23 closing price of $242.15

The stock recently traded at 11 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.)