First SolarFSLREarnings & Financial Report
First Solar, Inc. is a publicly traded American manufacturer of solar panels. First Solar uses rigid thin-film modules for its solar panels, and produces CdTe panels using cadmium telluride (CdTe) as a semiconductor. The company was founded in 1990 by inventor Harold McMaster as Solar Cells, Inc. In 1999 it was purchased by True North Partners, LLC, which rebranded it as First Solar, Inc. It provides end-of-life panel recycling at each of its manufacturing facilities.
Revenue
$1.0B
Gross Profit
$498.9M
Operating Profit
$372.5M
Net Profit
$349.4M
Gross Margin
49.4%
Operating Margin
36.9%
Net Margin
34.6%
YoY Growth
24.6%
EPS
$3.25
First Solar Q2 FY2024 Financial Summary
First Solar reported revenue of $1.0B (up 24.6% YoY) for Q2 FY2024, with a net profit of $349.4M (up 104.8% YoY) (34.6% margin). Cost of goods sold was $511.6M, operating expenses totaled $126.4M.
Key Financial Metrics
| Total Revenue | $1.0B |
|---|---|
| Net Profit | $349.4M |
| Gross Margin | 49.4% |
| Operating Margin | 36.9% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
First Solar Q2 FY2024 revenue of $1.0B breaks down across 2 segments, led by Modules Segment at $1.0B (99.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Modules Segment | $1.0B | 99.8% |
| Other | $1.7M | 0.2% |
First Solar Annual Revenue by Year
First Solar annual revenue history includes year-by-year totals (for example, 2025 revenue was $5.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $5.2B |
| 2024 | $4.2B |
| 2023 | $3.3B |
| 2022 | $2.6B |
First Solar Quarterly Revenue & Net Profit History
First Solar results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $1.0B | +23.6% | $346.6M | 33.2% |
| Q4 FY2025 | $1.7B | +11.1% | $520.9M | 31.0% |
| Q3 FY2025 | $1.6B | +79.7% | $455.9M | 28.6% |
| Q2 FY2025 | $1.1B | +8.6% | $341.9M | 31.2% |
| Q1 FY2025 | $844.6M | +6.4% | $209.5M | 24.8% |
| Q4 FY2024 | $1.5B | +30.7% | $393.1M | 26.0% |
| Q3 FY2024 | $887.7M | +10.8% | $313.0M | 35.3% |
| Q2 FY2024 | $1.0B | +24.6% | $349.4M | 34.6% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.01B | $887.7M | $1.51B | $844.6M | $1.10B | $1.59B | $1.68B | $1.04B |
| YoY Growth | 24.6% | 10.8% | 30.7% | 6.4% | 8.6% | 79.7% | 11.1% | 23.6% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $11.01B | $11.44B | $12.12B | $12.12B | $12.86B | $13.46B | $13.32B | $13.35B |
| Liabilities | $3.76B | $3.84B | $4.15B | $3.93B | $4.31B | $4.44B | $3.78B | $3.47B |
| Equity | $7.26B | $7.59B | $7.98B | $8.19B | $8.55B | $9.02B | $9.54B | $9.88B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $193.0M | $-53.7M | $811.0M | $-608.0M | $149.6M | $1.27B | $1.24B | $-214.9M |