First Solar Q3 2026: EPS beats at $5.30 as sales fall 22.8% and guidance is cut
First Solar earned $5.30 a diluted share against a $4.75 consensus while revenue fell 22.8% to $1.23 billion — margin, not volume, carried this quarter. Gross margin hit 57.9% and net income rose to $571.1 million. The catch: full-year sales guidance was cut to $4.6–4.9 billion and free cash flow stayed negative. Read the profit line first, then the balance sheet.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $5.30 beat the $4.75 consensus by $0.55, or 11.6%, and rose 25.0% from $4.24 a year ago. Net income of $571.1 million included a $5.0 million tax benefit rather than a tax charge, plus $24.2 million of interest income. The beat is real, but items below the operating line flattered it slightly.
Net sales of $1.23 billion fell 22.8% from $1.59 billion a year ago, which management attributes to fewer modules sold to third parties. The offset is cost: cost of sales dropped to $517.9 million from $984.1 million, lifting gross margin to 57.9% from 38.3%. Volume is shrinking, but each watt sold is far more profitable.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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