First Solar Drops 13.6% After Guiding 2026 Sales Flat to $5.2 Billion
First Solar projects flat to 5.8% lower net sales of $4.9-$5.2 billion for 2026, compared with $5.2 billion in 2025, following a 24% jump last year. It expects module shipments of 17-18.2 GW and adjusted EBITDA of $2.6-$2.8 billion, up 10-18.6%.
1. Weak 2026 Sales Guidance
First Solar guided full-year 2026 net sales of $4.9 billion to $5.2 billion, implying flat to a 5.8% decline from $5.2 billion in 2025, after reporting 24% growth the prior year driven by higher module volumes.
2. Volume and Profitability Targets
The company projects module shipments of 17 GW to 18.2 GW and aims for adjusted EBITDA of $2.6 billion to $2.8 billion, representing 10% to 18.6% growth over $2.36 billion in 2025.
3. Robust Q4 Results
In the fourth quarter, First Solar delivered net profit of $520.9 million, up 32% year-over-year from $393 million, while net sales rose 11.2% to $1.68 billion, driven by increased module shipments.