First Solar Inc

Latest Results (10.11.2025):

First Solar Inc reported its financial results for the first quarter of 2025, marked by net sales of $0.8 billion and net income per diluted share of $1.95. The results reflect a seasonal reduction in module sales compared to the prior quarter, and the company provided updated guidance for the full year 2025 amid new tariff impacts.

Net Sales and Earnings

For Q1 2025, First Solar Inc recorded net sales of $0.8 billion—a decrease of $0.7 billion from the previous quarter—mainly due to an anticipated seasonal decline in module volumes. The company’s net income per diluted share was $1.95, down from $3.65 in Q4 2024.

Cash Position and Capital Expenditures

The gross cash balance stood at $0.9 billion, while the net cash balance fell to $0.4 billion by the end of Q1, down from $1.2 billion at year-end. This decline was driven by capital expenditures for the Louisiana manufacturing facility and reduced operating cash flows from lower module sales, coupled with increased inventories to support future commitments.

Bookings and Backlog

First Solar Inc reported year-to-date net bookings of 0.7 GW, with 0.6 GW recorded since the Q4 earnings call, along with an expected sales backlog of 66.3 GW. The average selling price during this period was 30.5 cents per watt, excluding adjustments and India domestic sales.

Updated Guidance

The company revised its 2025 guidance to reflect the impact of new tariffs effective in April 2025. Key adjustments include lower ranges for net sales, gross margin, operating income, and earnings per diluted share for the full year, along with an updated forecast for module volume sold and second quarter earnings, underscoring the near-term challenges while maintaining confidence in its long-term strategic outlook.