EarningsQ2 2026 Earnings Report
DE:F3A Q2 2026 EPS Results
Actual EPS€3.49
Consensus EPS€2.58
Beat/MissBeat by +€0.91
One Year Ago EPS€2.83
DE:F3A Q2 2026 Revenue Results
Actual Revenue€940.40M
Expected Revenue€946.20M
Beat/MissMissed by -€5.80M
YoY Revenue Growth-3.73%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
DE:F3A Upcoming Earnings
First Solar's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:F3A Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented strong operational and financial performance (record volumes, wide gross margins, robust adjusted EBITDA and net income growth, a large backlog and a healthy balance sheet) alongside notable near-term headwinds tied to trade/policy uncertainty, international underutilization, logistics costs, and some timing delays for domestic capacity. On balance, the company emphasized disciplined contracting and substantial upside from technology (CuRe and perovskites) while awaiting policy clarity that could catalyze further bookings and utilization.Company Guidance
Record Financial Performance and Profitability
Net sales of approximately $1.06 billion in Q2 (down ~4% YoY), gross margin expanded to ~57% (increase of ~12 percentage points YoY), adjusted EBITDA of $644 million with a 61% adjusted EBITDA margin, and net income of $423 million (up ~24% YoY).
Strong Backlog and Recent Bookings
Contracted backlog of 45.1 GW with an aggregate transaction value of $13.6 billion and scheduled deliveries through 2030. Recent U.S. gross bookings of ~1.9 GW at an average selling price of ~$0.36/W (recorded early July) and India H1 gross bookings of ~1.1 GW at ~$0.20/W.
Manufacturing & Technology Progress
Surpassed 100 GW cumulative module sales globally; U.S. manufacturing operating at high utilization; South Carolina finishing facility Phase 1 on track to begin production in H2 2026 (Phase 2 now expected mid-2027); CuRe technology demonstrating performance above expectations in high-volume manufacturing and field deployments; Series 6/perovskite pilot lines progressing toward operational readiness (Series 6 pilot expected H1 2027).
Balance Sheet Strength and Cash Flow Improvement
Ended the quarter with $1.7 billion of net cash within the targeted long-term cash range ($1.5B–$2.0B). Operating cash outflows YTD improved to $360 million vs $458 million in prior-year H1 (improvement of ~21%), and H1 capital expenditures were $280 million. Completed full prepayment of India DFC loan.
Reaffirmed Guidance and Near-Term Outlook
Full-year 2026 guidance reaffirmed. Guidance assumes a net tariff impact (company presented as $60–$80 million). Q3 2026 expected volumes sold of 3.9–4.5 GW and adjusted EBITDA of $625–$775 million, reflecting continued confidence in reshoring and domestic manufacturing strategy.
Gross Margin Drivers Identified
Gross margin improvement driven in part by an estimated $89 million net IEPA tariff-related benefit, higher mix of modules qualifying for Section 45X tax credits, and lower international logistics costs (partially offset by other duties and tariffs).
DE:F3A Earnings History
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