First Solar reported third quarter 2026 results that exceeded earnings per share expectations but missed on revenue, leading management to lower full-year guidance for sales and volume. Net sales declined 23% year-over-year primarily due to lower module volumes sold to third parties, though the company authorized a new $500 million share repurchase program.
Key Highlights
- Net income per diluted share rose 25% year-over-year to $5.30, significantly outperforming the $4.64 estimate.
- Management lowered full-year 2026 net sales guidance to a range of $4.6 billion–$4.9 billion, down from the previous $4.9 billion–$5.2 billion.
- Expected full-year volume sold was revised downward to 16.0–17.0 GW from the prior forecast of 17.0–18.2 GW.