First Solar Q2 Earnings: Net Income Climbs 24% to $423M, Guidance Reaffirmed

summarizeSummary

First Solar reported Q2 2026 net income of $423 million ($3.92/share), up 24% YoY, and reaffirmed full-year guidance. Adjusted EBITDA was $644 million, and the contracted backlog stands at 45.1 GW.

check_boxKey Events · Earnings and Guidance · FSLR

• Q2 Net Income Up 24%

  Driven by higher module sales volume and IRA tax credits, net income rose to $423 million, or $3.92 per diluted share, compared to $342 million ($3.18/share) in Q2 2025.

• Adjusted EBITDA of $644M

  Adjusted EBITDA reached $644 million, up from $560 million a year ago, reflecting strong operating leverage and Section 45X tax credit benefits.

• 2026 Guidance Reaffirmed

  Full-year guidance remains unchanged: net sales of $4.9B-$5.2B, Adjusted EBITDA of $2.6B-$2.8B, and a net cash balance of $1.7B-$2.3B. For Q3, Adjusted EBITDA is expected between $625M and $775M.

• 45.1 GW Contracted Backlog

  Extending through 2030, the backlog provides long-term revenue visibility and demonstrates sustained demand for First Solar's U.S.-made thin-film modules.

auto_awesomeAnalysis · FSLR · Manufacturing

A 24% year-over-year jump in net income to $423 million, or $3.92 per share, on $1.06 billion in sales highlights a strong second quarter for First Solar. Adjusted EBITDA came in at $644 million, and the company reaffirmed its full-year 2026 guidance, signaling confidence in its manufacturing ramp and demand pipeline. The 45.1 GW contracted backlog through 2030 underscores long-term revenue visibility, though cash declined to $1.7 billion amid working capital build and debt repayment. The results and steady outlook reinforce the company's position as a leading U.S. solar manufacturer benefiting from IRA tax credits and tariff protections.