First Solar公布二季度财报，EPS超预期但全年指引维持不变

Net sales of $1.06 billion, a decrease of 4% year-over-year
Net income per diluted share of $3.92, an increase of 23% year-over-year
Adjusted EBITDA
1
of $644 million
Gross and net cash balance of $1.7 billion
Contracted sales backlog of 45.1 GW as of June 30, 2026
PHOENIX--(BUSINESS WIRE)--
First Solar, Inc. (Nasdaq: FSLR) (the “Company”), America’s leading PV solar technology and manufacturing company, today announced financial results for the second quarter ended June 30, 2026 and reaffirmed its 2026 guidance.
Net sales were $1.06 billion for the second quarter of 2026, a 4% decrease compared to the second quarter of 2025, driven primarily by lower revenue associated with customer contract terminations, partially offset by an increase in the volume of modules sold to third parties.
The Company reported second quarter net income of $423 million, or $3.92 per diluted share, compared to $342 million, or $3.18 per diluted share, in the second quarter of 2025. Adjusted EBITDA was $644 million compared to $560 million in the second quarter of 2025.
Net cash balance decreased to $1.7 billion as of June 30, 2026 from $2.4 billion as of December 31, 2025, driven by seasonal working-capital needs and capital expenditures primarily for our South Carolina finishing facility.
“We delivered both record second-quarter and first-half sales volume and improved financial performance relative to the prior year,” said Mark Widmar, Chief Executive Officer. “We also surpassed 100 GW of cumulative module sales globally and ended the quarter with approximately 45.1 GW of contracted backlog extending through 2030, demonstrating continued demand for our differentiated technology platform, domestic manufacturing footprint and delivery certainty.”
____________________
1
See “Non-GAAP Financial Measures” for additional information on Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net income, which is the most directly comparable GAAP measure.
Our 2026 guidance remains unchanged and is summarized below:
Prior
Current
Volume Sold
17.0GW to 18.2GW
Unchanged
Net Sales
$4.9B to $5.2B
Unchanged
Gross Profit
(1)
$2.4B to $2.6B
Unchanged
Operating Expenses
(2)
$610M to $635M
Unchanged
Adjusted EBITDA
(3)
$2.6B to $2.8B
Unchanged
Capital Expenditures
$0.8B to $1.0B
Unchanged
Net Cash Balance
(4)
$1.7B to $2.3B
Unchanged
____________________
1.
Assumes $2.10 billion to $2.19 billion of Section 45X tax credits and underutilization costs of $115 million to $135 million.
2.
Assumes $90 million to $100 million of production start-up expense.
3.
Adjusted EBITDA reflects addbacks of approximately $225 million for share-based compensation, Section 45X tax credit discounts, underutilization, and production start-up expenses. See “Non-GAAP Financial Measures” for additional information on Adjusted EBITDA.
4.
Defined as cash, cash equivalents, restricted cash, restricted cash equivalents, and marketable securities, less expected debt at the end of 2026.
From a third quarter earnings cadence perspective, we anticipate our module sales to be between 3.9 GW and 4.5 GW, including 3.2 GW to 3.7 GW from our U.S. manufacturing operations. These factors are expected to result in forecasted third quarter Adjusted EBITDA between $625 million and $775 million.
The guidance figures presented above are forward-looking statements that are subject to a variety of assumptions and estimates, including with respect to the impact of public policies such as tariffs, export controls, or other trade remedies, freight-related costs, and certain factors related to the Inflation Reduction Act of 2022 (the “IRA”), as amended by the One Big Beautiful Bill Act of 2025. Our outlook assumes the current U.S. policy environment persists, and in addition, that permitting processes and timelines will remain consistent with historical levels. Investors are encouraged to listen to the conference call and to review the accompanying materials, which contain more information about First Solar’s second quarter 2026 financial results, 2026 guidance, and financial outlook.
We are not providing forward-looking guidance for GAAP net income or a quantitative reconciliation of the Adjusted EBITDA guidance range to GAAP net income, the most directly comparable GAAP measure, because we are unable to predict with reasonable certainty the potential occurrence, financial impact or recognition period of significant items, such as share-based compensation, Section 45X tax credit discounts, contingencies and certain other gains or losses, as well as related income tax accounting because such items have not occurred, are out of our control, and/or cannot be reasonably predicted without unreasonable effort. These significant items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. See “Non-GAAP Financial Measures” for more information on Adjusted EBITDA, including identification of significant items that we believe are not indicative of our ongoing operations.
Conference Call Details
First Solar has scheduled a conference call for today, July 30, 2026, at 4:30 p.m. ET, to discuss this announcement. A live webcast of this conference call and accompanying materials are available at investor.firstsolar.com. A replay of the webcast will also be available on the Investors section of the Company’s website approximately two hours after the conclusion of the call and remain available for 30 days.
About First Solar, Inc.
First Solar, Inc. is America's leading photovoltaic (“PV”) solar technology and manufacturing company. The only U.S.-headquartered company among the world's largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with our advanced, uniquely American thin film PV technology. Developed at research and development (“R&D”) labs in California and Ohio, our technology provides a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV solar modules. Our PV solar modules are produced using a fully integrated, continuous process that does not rely on Chinese crystalline silicon supply chains. For more information, please visit
www.firstsolar.com
.
For First Solar Investors
This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, are forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: demand for solar technology generally and for our technology specifically, including in the U.S. market, and our positioning to serve such demand; new capacity coming online; our expectations regarding the political and trade environment and its impacts; production and delivery of our modules; our financial guidance for 2026, including future financial results, net sales, gross profit, operating expenses, Adjusted EBITDA, net cash balance, capital expenditures, expected earnings cadence, volume sold, bookings, and expected module shipments; products and our business and financial objectives for 2026; the availability of benefits under certain production linked incentive programs; the impact of the IRA as amended by the One Big Beautiful Bill Act of 2025, including the Section 45X tax credits; our expectations regarding the sale of our Section 45X tax credits; and the impact of public policies such as tariffs, export controls or other trade remedies. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue,” “contingent,” and the negative or plural of these words and other comparable terminology. Forward-looking statements