First Solar Q3 revenue falls on lower module sales volumes, cuts 2026 net sales outlook
FSLR•First Solar’s third-quarter net sales fell 23% year over year to $1.23 billion, below the $1.29 billion consensus, while EPS rose 25% to $5.30. The company cut its 2026 net sales outlook to $4.6 billion-$4.9 billion and authorized a $500 million share repurchase program.
1. Quarterly results
First Solar reported third-quarter net sales of $1.23 billion, down 23% year over year and below the $1.29 billion consensus estimate. EPS rose 25% year over year to $5.30, and net income was $571.06 million. The company said lower sales reflected a decrease in the volume of modules sold to third parties; higher net income and adjusted EBITDA reflected improved margins.
2. Outlook and repurchase
First Solar lowered its 2026 net sales guidance to $4.6 billion-$4.9 billion from $4.9 billion-$5.2 billion. It now expects 2026 adjusted EBITDA of $2.55 billion-$2.75 billion, down from $2.6 billion-$2.8 billion, and forecast fourth-quarter adjusted EBITDA of $643 million-$843 million. The company authorized a $500 million share repurchase program.
