First Solar Reports Mixed Earnings, Lowers Annual Outlook

PHOENIX, Ariz. — First Solar Inc. (FSLR) announced its financial results for the first quarter of 2025 after the market closed on Tuesday. The company reported a quarterly revenue of $844.57 million, surpassing analysts’ expectations of $839.28 million.

However, total revenue was down $700 million compared to the previous quarter, primarily attributed to a seasonal dip in module sales. First Solar also reported earnings of $1.95 per share, which fell short of analyst estimates of $2.63 per share.

Mark Widmar, CEO of First Solar, acknowledged the challenges posed by the new tariff regime but expressed optimism about the long-term demand for solar energy in the U.S. market. He said, “Despite the near-term challenges presented by the new tariff regime, we believe that the long-term outlook for solar demand remains strong.”

As of the end of the first quarter, First Solar’s cash and marketable securities decreased to $400 million, down from $1.2 billion at the end of 2024. This decline was a primary concern following the earnings report, contributing to a 10.51% drop in stock price in after-hours trading.

The company also lowered its full-year revenue forecast to a range of $4.5 billion to $5.5 billion, down from the prior estimate of $5.3 billion to $5.8 billion. This revised guidance is below analysts’ expectations of $5.46 billion.

Widmar highlighted First Solar’s position in the industry, stating, “As America’s largest and most established solar module manufacturer, we are well-positioned to serve the solar demand.”

Moving forward, First Solar anticipates earnings will range from $12.50 to $17.50 per share, compared to a previous range of $17 to $20 and analyst expectations of $18.20 per share. The company plans to discuss further details during its investor conference call.