First Solar, Inc.'s Stock Analysis

First Solar Reports Q3 2025 Financial Results and Guidance

First Solar, Inc. reported net sales of $1.6 billion for the third quarter of 2025, marking a $0.5 billion increase from the previous quarter. The company achieved a record sales volume of 5.3 GW and net income per diluted share of $4.24, up from $3.18 in the second quarter. The gross cash balance rose to $2.0 billion, with a net cash balance of $1.5 billion, reflecting higher cash receipts from module sales and favorable changes in working capital. The company also reported 2.7 GW in gross bookings since the last earnings call, with an average selling price of 30.9 cents per watt, and a contracted sales backlog of 53.7 GW valued at $16.4 billion as of September 30, 2025.

First Solar updated its 2025 guidance, assuming significant costs related to ramp and underutilization, as well as production start-up expenses. The guidance includes expectations for Section 45X tax credits. The company emphasized its commitment to balancing growth, liquidity, and profitability while navigating industry challenges. Investors are encouraged to review the detailed financial results and guidance provided during the scheduled conference call and through accompanying materials available on the company's investor relations website.

Oct 30, 2025 16:09:03

First Solar Enters Tax Credit Transfer Agreements Worth $775 Million

First Solar, Inc. has entered into two Tax Credit transfer agreements with a digital payments company, totaling $775 million. The Fixed Transfer Agreement involves the sale of $600 million in advanced manufacturing production tax credits for $573 million, with payments scheduled for October 31 and December 29, 2025.

Additionally, the Variable Transfer Agreement allows for the sale of up to $175 million in additional tax credits, with the purchase price set at $0.955 per $1.00 of transferred credits, due on February 27, 2026. Both agreements are subject to customary conditions, including the company's compliance with representations and warranties.

Oct 21, 2025 16:36:09

First Solar Reports Q2 2025 Financial Results and Guidance

First Solar, Inc. reported net sales of $1.1 billion for the second quarter ended June 30, 2025, marking an increase of $0.3 billion from the previous quarter, primarily due to higher module sales. The company's net income per diluted share rose to $3.18 from $1.95 in the first quarter. At the end of the quarter, First Solar's net cash balance increased to $0.6 billion, up from $0.4 billion, largely driven by the sale of Section 45X tax credits. The company also booked 2.1 GW in July 2025 and has a sales backlog of 64.0 GW extending through 2030.

In its updated guidance for 2025, First Solar anticipates module sales between 5.0 GW and 6.0 GW for the third quarter, with expected earnings per diluted share ranging from $3.30 to $4.70. The company projects advanced manufacturing production tax credits under Section 45X to be between $390 million and $425 million in the third quarter. Investors are encouraged to participate in the scheduled conference call to gain further insights into the company's financial results and guidance.

Jul 31, 2025 16:05:00

First Solar Sells $391 Million in Tax Credits to Purchaser

First Solar, Inc. has entered into a Tax Credit Transfer Agreement with a financial institution to sell up to $391 million in advanced manufacturing production tax credits generated from the production of specific module components in the United States. The purchase price for these tax credits is set at up to $372.76 million, to be paid in three installments, with the first payment made on or around the Effective Date of July 28, 2025, and subsequent payments expected in the fourth quarter of 2025.

The agreement is contingent upon customary conditions, including the absence of default and the accuracy of the company's representations and warranties. It also includes standard covenants, indemnification, and termination provisions typical for tax credit sale agreements.

Jul 30, 2025 16:12:48

First Solar Reports Q1 2025 Results, Revises Financial Guidance

First Solar, Inc. announced its financial results for the first quarter of 2025, reporting net sales of $0.8 billion, a decrease from $1.5 billion in the previous quarter. The company recorded a net income per diluted share of $1.95, down from $3.65 in the fourth quarter of 2024. The decline in sales was attributed to a seasonal reduction in module sales volume. Additionally, the company’s net cash balance decreased to $0.4 billion from $1.2 billion at the end of 2024, primarily due to capital expenditures and reduced operating cash flows.

The company has updated its 2025 financial guidance to reflect the anticipated impact of new tariffs, projecting net sales between $4.5 billion and $5.5 billion, down from a previous range of $5.3 billion to $5.8 billion. The revised guidance includes expectations for gross margin, operating income, and earnings per diluted share, which have also been adjusted downward. First Solar anticipates module sales to be between 3.0 and 3.9 GW in the second quarter of 2025 and forecasts the advanced manufacturing production credit to be between $310 million and $350 million.

Apr 29, 2025 16:04:26

First Solar Reports 2024 Financial Results and 2025 Guidance

First Solar, Inc. reported net sales of $4.2 billion for the full year 2024, an increase from $3.3 billion in 2023, with fourth quarter sales reaching $1.5 billion, up $0.6 billion from the previous quarter. The company achieved net income per diluted share of $12.02 for the year and $3.65 for the fourth quarter. Additionally, the year-end net cash balance rose to $1.2 billion, attributed to proceeds from tax credits and module sales, despite capital expenditures related to new facilities in Alabama and Louisiana.

For 2025, First Solar provided guidance of net sales between $5.3 billion and $5.8 billion, with expected earnings per diluted share ranging from $17.00 to $20.00. The projected year-end net cash balance is anticipated to be between $0.7 billion and $1.2 billion. However, the guidance also highlights potential capital expenditures of $1.3 billion to $1.5 billion, indicating significant investment needs for future growth.

Feb 25, 2025 16:06:24

First Solar Reports $857 Million in Tax Credit Sales

First Solar, Inc. announced the final sale amount of $857 million in Section 45X Advanced Manufacturing Production tax credits for 2024, following two Tax Credit Transfer Agreements made in December 2024. The agreements resulted in a fixed transaction of $645 million and a variable transaction of $212 million, with gross cash proceeds expected to be around $819 million upon completion. The CEO noted the economic value generated and the support for American jobs tied to the production of solar panels in their US facilities, marking the highest volume since 2002.

On the downside, the transaction is expected to impact First Solar's 2024 earnings, with a pre-tax effect of approximately $39 million and a post-tax impact of about $45 million. This will lead to a reduction of approximately $0.42 per share in diluted earnings for the year. Despite these impacts, the company continues to invest in its manufacturing capacity and infrastructure, aiming to support over 30,000 jobs by 2026.

Feb 20, 2025 16:09:21

First Solar Reports Q3 2024 Financial Results and Challenges

First Solar, Inc. reported a net sales figure of $0.9 billion for the third quarter of 2024, a slight decline from the previous quarter, largely due to reduced sales volume and a significant product warranty reserve charge of $50 million. The company's net income per share also fell to $2.91 compared to $3.25 in the prior quarter. Additionally, their cash balance decreased from $1.2 billion to $0.7 billion, attributed to ongoing capital expenditures for new factories and increased working capital needs. Despite these challenges, the company maintains a substantial sales backlog of 73.3 GW and has secured year-to-date net bookings of 4.0 GW, indicating ongoing demand for their products.

CEO Mark Widmar expressed optimism about the company's progress amid industry volatility and political uncertainties. While the company has updated its financial guidance for 2024, projecting lower net sales and operating income, it remains focused on balancing growth and profitability. The adjustments reflect a proactive approach to navigating the market landscape, with First Solar committed to its long-term strategies and sustainability goals, emphasizing its role as a leader in solar technology.

Oct 29, 2024 16:09:09

First Solar Reports Strong Q2 2024 Financial Results

First Solar, Inc. announced a solid second quarter with net sales of $1.0 billion, up $200 million from the previous quarter. Net income per share increased to $3.25, showcasing improved profitability. However, the company's cash balance decreased to $1.2 billion due to capital expenditures for new factories and loan repayments. Despite this, First Solar maintained its 2024 financial guidance, indicating confidence in future performance.

Jul 30, 2024 16:04:48

First Solar Reports Strong Q1 2024 Results and Maintains Full-Year Guidance

First Solar announced Q1 2024 net sales of $794 million, net income per share of $2.20, and a cash balance of $1.4 billion. The company maintains its full-year 2024 guidance, with a YTD net bookings of 2.7 GW. Despite a decrease in sales compared to the previous quarter, First Solar's CEO is optimistic about the company's performance and ability to deliver shareholder value.

May 01, 2024 16:18:08