First Solar's earnings call reflects a generally positive outlook, with strong module sales, earnings exceeding expectations, and a favorable policy environment. However, challenges remain due to international tariff impacts and contract terminations.

Company Guidance -

Q3 2025

During First Solar's Q2 2025 earnings call, the company provided an optimistic outlook for the remainder of the year, driven by several key metrics. They reported module sales of 3.6 gigawatts, exceeding forecasts, and achieved earnings per diluted share of $3.18, above their guidance range. The company produced 4.2 gigawatts of modules, with 2.4 gigawatts from U.S. facilities and 1.8 gigawatts from international sites. First Solar is expanding its U.S. capacity, with the Louisiana site expected to add over 14 gigawatts by 2026. The company also highlighted technological advancements in their CuRe and perovskite platforms and discussed a strong contracted backlog of 61.9 gigawatts valued at $18.5 billion. Despite policy and trade uncertainties, First Solar remains confident in its strategic positioning and projected 2025 earnings per diluted share of $13.5 to $16.5, with anticipated net sales between $4.9 billion and $5.7 billion.

Strong Module Sales and Manufacturing

First Solar recorded 3.6 gigawatts of module sales in Q2 2025, above the forecasted midpoint. The company produced 4.2 gigawatts, with 2.4 gigawatts from U.S. facilities and 1.8 gigawatts from international facilities. U.S. manufacturing capacity is expected to exceed 14 gigawatts by 2026.

Earnings Exceed Expectations

Q2 earnings per diluted share were $3.18, above the high end of the guidance range. Net sales for the quarter were $1.1 billion, an increase of $0.3 billion from the previous quarter.

Advancements in Technology

First Solar reported improvements in their CuRe technology platform and continued progress in their perovskite development line, which is expected to produce small form factor modules in August.

Positive Policy Environment

Recent U.S. policy changes, including the new reconciliation legislation, are seen as beneficial for First Solar, strengthening its position against Chinese competitors.

Increased Bookings and Demand

The company recorded 2.1 gigawatts of new bookings following the enactment of the reconciliation bill, with strong demand for U.S. manufactured products.

First Solar (FSLR) Earnings, Revenues Date & History

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FSLR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	4.30 / -	2.91	―	―	―
Jul 31, 2025	2025 (Q2)	2.66 / 3.18	3.25	-2.15% (-0.07)
Apr 29, 2025	2025 (Q1)	2.49 / 1.95	2.2	-11.36% (-0.25)
Feb 25, 2025	2024 (Q4)	4.70 / 3.65	3.25	12.31% (+0.40)
Oct 29, 2024	2024 (Q3)	3.15 / 2.91	2.5	16.40% (+0.41)
Jul 30, 2024	2024 (Q2)	2.70 / 3.25	1.59	104.40% (+1.66)
May 01, 2024	2024 (Q1)	2.00 / 2.20	0.4	450.00% (+1.80)
Feb 27, 2024	2023 (Q4)	3.14 / 3.25	-0.07	4742.86% (+3.32)
Oct 31, 2023	2023 (Q3)	2.04 / 2.50	-0.46	643.48% (+2.96)
Jul 27, 2023	2023 (Q2)	0.99 / 1.59	0.52	205.77% (+1.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FSLR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$174.73	$183.97	+5.29%
Apr 29, 2025	$137.24	$125.82	-8.32%
Feb 25, 2025	$147.46	$156.84	+6.36%
Oct 29, 2024	$199.67	$197.50	-1.09%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.