Form 10-Q · Quarterly report
First Solar 10-Q, filed Jul 30, 2026
- Filed
- CIK
- 0001274494
- Accession no.
- 0001274494-26-000170
Summary
First Solar's net sales for the quarter ended June 30, 2026 decreased 3.7% year over year to $1.1 billion, while gross margin rose to 57.3% from 45.6% and it produced 4.3 GW and sold 3.7 GW of solar modules. The company said it commenced operations at its fifth U.S. manufacturing facility and is building a sixth U.S. facility in South Carolina, with first-phase operations expected in the second half of 2026.
Key points
- Net sales fell 3.7% to $1.1 billion for the three months ended June 30, 2026, versus the prior-year period, as lower revenue from customer contract terminations offset a 5.3% increase in third-party module volume.
- Gross profit as a percentage of net sales rose 11.7 percentage points to 57.3% from 45.6%, primarily on expected IEEPA tariff refunds net of amounts payable to customers, higher 45X credit-eligible module volume, and lower logistics costs.
- First Solar produced 4.3 GW and sold 3.7 GW of solar modules in the quarter, compared with 4.2 GW produced and 3.6 GW sold in the same period in 2025.
- In May 2026, First Solar prepaid $328.2 million in principal and $5.5 million in interest to satisfy all obligations under its India Credit Facility.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Executive Overview We are America’s leading PV solar technology and manufacturing company. The only U.S.-headquartered company among the world’s largest solar manufacturers, First Solar is focused on competitively and reliably enabling power generation needs with our advanced, uniquely American thin film PV technology. Developed at R&D labs in California and Ohio, our technology provides a competitive, high-performance, and responsibly produced alternative to conventional crystalline silicon PV solar modules. Our PV solar modules are produced using a fully integrated, continuous process that does not rely on Chinese crystalline silicon supply chains. …
An excerpt of the text as filed with the SEC, cut for length.
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