FSLR

Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at First Solar (NASDAQ:FSLR) and its peers. Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects. The 15 renewable energy stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 3.1% while next quarter’s revenue guidance was 7.9% below. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. Headquartered in Arizona, First Solar (NASDAQ:FSLR) specializes in manufacturing solar panels and providing photovoltaic solar energy solutions. First Solar reported revenues of $1.06 billion, down 3.7% year on year. This print fell short of analysts’ expectations by 1%. Overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates. Interestingly, the stock is up 5.9% since reporting and currently trades at $218.23. Is now the time to buy First Solar? Access our full analysis of the earnings results here, it’s free. Working in stealth mode for eight years, Bloom Energy (NYSE:BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation. Bloom Energy reported revenues of $1.07 billion, up 166% year on year, outperforming analysts’ expectations by 27.7%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. Bloom Energy pulled off the biggest analyst estimate beat, fastest revenue growth, and highest full-year guidance raise of the whole group. The market seems happy with the results as the stock is up 40.6% since reporting. It currently trades at $234.50. Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free. Pioneering the use of lithium-ion batteries for grid storage, Fluence (NASDAQ:FLNC) helps store renewable energy sources with battery systems. Fluence Energy reported revenues of $649.8 million, up 7.9% year on year, falling short of analysts’ expectations by 18.8%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly. Fluence Energy delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 10.9% since the results and currently trades at $12.69. Read our full analysis of Fluence Energy’s results here. With its name deriving from a combination of “generating” and “AC”, Generac (NYSE:GNRC) offers generators and other power products for residential, industrial, and commercial use. Generac reported revenues of $1.17 billion, up 10.6% year on year. This print missed analysts’ expectations by 0.5%. Zooming out, it was actually a very strong quarter as it put up a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates. The stock is up 13.1% since reporting and currently trades at $221.23. Read our full, actionable report on Generac here, it’s free. Established in 2006, SolarEdge (NASDAQ: SEDG) creates advanced systems to improve the efficiency of solar panels. SolarEdge reported revenues of $346.2 million, up 19.6% year on year. This number topped analysts’ expectations by 1.2%. More broadly, it was a satisfactory quarter as it also logged a beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations significantly. The stock is down 37% since reporting and currently trades at $30.73. Read our full, actionable report on SolarEdge here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

Shares of First Solar Inc. FSLR gained 2.5% on July 31, 2026, following the release of its second-quarter results after the market closed on July 30. The stock continued its upward momentum over subsequent trading sessions, surging 18.3% since the announcement. The solar panel manufacturer comfortably surpassed Wall Street's earnings expectations, despite narrowly missing revenue estimates. This rally in FSLR’s share price reflects increased investor optimism surrounding its strong profitability. The earnings beat, driven by expanding gross margins and strong operational execution, coupled with reaffirmed full-year guidance, provides confidence in FSLR's near-term momentum and reinforces its position as the largest solar panel manufacturer in the United States. However, direct equity ownership in FSLR carries distinct single-stock concentration risks. As a domestic manufacturer, First Solar’s long-term profitability remains heavily dependent on federal policy incentives as well as favorable trade protections against foreign solar module imports. Against this backdrop, investors looking to capitalize on First Solar's upward momentum while maintaining a diversified approach may want to focus on exchange-traded funds (ETFs) that hold significant exposure to the stock. But before identifying those specific ETFs, it is worth taking a closer look at the key metrics behind First Solar's impressive quarterly beat and the solid contracted backlog that underpins its multi-year outlook. The bottom line surpassed the Zacks Consensus Estimate by 1.2%, while revenues missed the consensus mark by 0.4%. A similar trend was visible on a year-over-year basis as well, with its top line declining 4% but bottom line improving 23.3%. The sales decline was on account of lower revenues associated with customer contract terminations. The company reached an important milestone in the second quarter, exceeding 100 gigawatts (GW) of cumulative module sales globally. As of June 30, 2026, FSLR’s contracted backlog totaled 45.1 GW with an aggregate transaction value of $13.6 billion. Its gross margin expanded 1180 basis points (bps) from the second quarter of 2025, driven by net IEEPA tariff-related benefit, higher mix of modules qualifying for Section 45X tax credits and lower logistics costs. Looking ahead, FSLR’s South Carolina facility is expected to provide up to 3.5 GW of finishing capacity for modules, with the first phase of the finishing facility remaining on track to begin production in the second half of 2026. FSLR expects the second phase of the facility to be completed by mid-2027. The company expects its 2026 results to reflect a net-tariff impact of $60 million to $80 million. Invesco Solar ETF TAN This fund, with a market value worth $1.41 billion, provides exposure to 35 companies from the solar energy industry. Of these, First Solar takes the first spot, holding 10.60% of the fund. TAN has gained 8.7% year to date and charges 70 basis points (bps) in fees. Virtus Duff & Phelps Clean Energy ETF VCLN This fund, with net assets worth $5.6 million, provides exposure to companies involved in clean energy innovation and commercialization across the utility, industrial, technology and energy sectors. First Solar takes the first spot in VCLN's holdings, comprising 8.71% of the fund. VCLN has rallied 12.2% year to date and charges 59 bps in fees. iShares Global Clean Energy ETF ICLN This fund, with net assets worth $2.25 billion, offers exposure to 105 global companies involved in clean energy. Of these, First Solar takes the first spot, holding 8.67% of the fund. ICLN has risen 12.2% year to date and charges 39 bps in fees. Global X CleanTech ETF CTEC This fund, with net assets worth $25.5 million, offers exposure to 40 companies involved in renewable energy production, energy storage, smart grid implementation, residential/commercial energy efficiency, and/or the production and provision of pollution-reducing products and solutions. Of these, First Solar takes the second spot, holding 7.43% of the fund. CTEC has rallied 10.1% year to date and charges 50 bps in fees. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report Invesco Solar ETF (TAN): ETF Research Reports iShares Global Clean Energy ETF (ICLN): ETF Research Reports Global X ClimateTech ETF (CTEC): ETF Research Reports This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

SolarEdge Technologies, Inc. SEDG reported a second-quarter 2026 adjusted earnings of 6 cents per share, which beat the Zacks Consensus Estimate of 4 cents by 50%. The result marked a sharp improvement from the year-ago loss of 81 cents per share.Barring one-time adjustments, the company incurred a GAAP loss of 50 cents per share compared with a GAAP loss of $2.13 in the year-ago period. Revenues increased 19.6% year over year to $346.2 million and surpassed the consensus estimate of $343 million by 1.3%. Strong European demand and U.S. commercial and industrial activity offset softness in the U.S. residential market. Battery volume reached 426 megawatt-hours. SolarEdge Technologies, Inc. price-consensus-eps-surprise-chart | SolarEdge Technologies, Inc. Quote Adjusted gross profit rose to $98.7 million from $36.9 million in the prior-year quarter. The adjusted gross margin expanded to 28.6% from 13.1%, representing the sixth consecutive quarter of year-over-year gross margin improvement.The reported margin included a $13.3 million benefit related to tariff matters under the International Emergency Economic Powers Act. Even with that contribution, the widening margin and stronger revenue base helped SolarEdge return to adjusted operating profitability for the first time since the second quarter of 2023.Adjusted operating expenses were $88.5 million compared with $85.2 million a year earlier. However, the improvement in gross profit more than offset the modest increase in expenses, resulting in adjusted operating income of $10.2 million.SEDG had recorded an adjusted operating loss of $48.3 million in the prior-year period. SEDG recognized revenues from approximately 62,600 inverters during the quarter, up from 50,500 in the first quarter. Optimizer volume increased sequentially to nearly 2.49 million units from roughly 2.44 million.Battery volume climbed to 426 megawatt-hours from 331 megawatt-hours in the preceding quarter. The sharp sequential increase supports the strong battery revenue performance and highlights the product category’s growing importance within SEDG’s sales mix. Cash and cash equivalents reached $527.3 million as of June 30, 2026, up from $455.1 million at the end of 2025.As of the same date, total long-term liabilities were $971.1 million compared with $951.2 million as of Dec. 31, 2025.The net cash provided by operating activities in the first six months of 2026 amounted to $35.84 million compared with $26.02 million in the year-ago period. For the third quarter of 2026, the company expects revenues to be between $310 million and $340 million. The midpoint of $325 million implies a sequential decline from the second-quarter level. The Zacks Consensus Estimate is pegged at $377.18 million, higher than the company’s guided range.Adjusted gross margin is projected between 22% and 26%, while adjusted operating expenses are expected in the range of $86 million to $91 million. The guidance excludes potential third-quarter tariff refunds and assumes no significant revenue pull-forward. The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. First Solar, Inc. FSLR reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter. FSLR’s net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.Enphase Energy, Inc. ENPH reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.ENPH’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million. Canadian Solar Inc. CSIQ is slated to report second-quarter 2026 results on Aug. 27, before market open. The Zacks Consensus Estimate for CSIQ’s second-quarter loss is pegged at $1.01 per share, indicating a year-over-year decline of 90.6%.The Zacks Consensus Estimate for CSIQ’s second-quarter sales is pegged at $1.17 billion, implying a year-over-year decline of 31.2%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report First Solar, Inc. (FSLR) : Free Stock Analysis Report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

First Solar, Inc. FSLR reported second-quarter 2026 earnings of $3.92 per share, which beat the Zacks Consensus Estimate of $2.74 by 43.1%. The bottom line increased 23.3% from $3.18 in the year-ago quarter, aided by gross-margin expansion and a stronger mix of U.S.-made modules. Net sales of $1.06 billion missed the consensus estimate of $1.061 billion by 0.4% and declined 3.7% year over year.Contracted backlog stood at 45.1 gigawatts, valued at about $13.6 billion, through 2030. First Solar, Inc. price-consensus-eps-surprise-chart | First Solar, Inc. Quote In the second quarter, the company’s gross profit was $605 million, which rose 21% from $499.9 million in the year-ago quarter.Total operating expenses jumped 11.8% year over year to $154.6 million.FSLR reported an operating income of $450.4 million compared with $361.6 million in the year-ago quarter. First Solar had $1.69 billion in cash and cash equivalents as of June 30, 2026, down from $2.80 billion as of Dec. 31, 2025.The company had no long-term debt as of the same date compared with $282.6 million as of Dec. 31, 2025.Net cash used in operating activities amounted to $359.8 million during the first six months of 2026 compared with $458.4 million in the year-ago period. FSLR still expects its sales to be in the range of $4.9-$5.2 billion. The Zacks Consensus Estimate for sales is pegged at $5.07 billion, which lies above the midpoint of the company’s guided range.First Solar still expects gross profit to be in the band of $2.4-$2.6 billion. Its operating expenses are anticipated to be in the $610-$635 million range.First Solar projects module shipments to be in the band of 17-18.2 gigawatts. The company expects its 2026 capital expenditure to be in the range of $0.8-$1 billion. First Solar currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Enphase Energy, Inc. ENPH reported second-quarter 2026 adjusted earnings of 46 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 33.3% from 69 cents in the prior-year quarter.Enphase Energy’s second-quarter revenues of $291.9 million missed the Zacks Consensus Estimate of $295 million by 1%. The top line also decreased 19.6% from the prior-year quarter’s reported figure of $363.2 million. SolarEdge Technologies, Inc. SEDG is slated to report second-quarter 2026 results on Aug. 5, before market open. The Zacks Consensus Estimate for SEDG’s second-quarter earnings is pegged at four cents per share.The Zacks Consensus Estimate for SEDG’s second-quarter sales is pegged at $341.7 million, implying a year-over-year improvement of 18%.Array Technologies ARRY is slated to report second-quarter 2026 results on Aug. 5, after market close. The Zacks Consensus Estimate for ARRY’s second-quarter earnings is pegged at 11 cents per share.The Zacks Consensus Estimate for ARRY’s second-quarter sales is pegged at $323.8 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report Array Technologies, Inc. (ARRY) : Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Net Sales: Approximately $1.06 billion in Q2 2026, a decrease of about 4% year-over-year. Gross Margin: Approximately 57%, an increase of about 12 percentage points compared to Q2 2025. Net Income: $423 million, up approximately 24% year-over-year. Adjusted EBITDA: $644 million, with an adjusted EBITDA margin of 61%. Operating Expenses: Approximately $155 million, including $76 million of R&D expense. Contracted Backlog: 45.1 gigawatts with an aggregate transaction value of $13.6 billion. US Gross Bookings: Approximately 1.9 gigawatts at an average selling price of approximately $0.36 per watt. India Gross Bookings: Approximately 1.1 gigawatts at an average selling price of approximately $0.20 per watt. Operating Cash Flow: Outflows of $360 million year-to-date, improved from outflows of $458 million in the first half of 2025. Capital Expenditures: $280 million in the first half, primarily supporting the South Carolina finishing facility and technology investments. Net Cash: Approximately $1.7 billion at the end of the quarter. Warning! GuruFocus has detected 5 Warning Sign with FSLR. Is FSLR fairly valued? Test your thesis with our free DCF calculator. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. First Solar Inc (NASDAQ:FSLR) achieved record second-quarter and first-half sales volume, generating over $1 billion in net sales with a gross margin expansion to approximately 57%. First Solar Inc (NASDAQ:FSLR) surpassed a significant milestone of 100 gigawatts in cumulative module sales globally, reflecting strong customer trust and a durable technology platform. First Solar Inc (NASDAQ:FSLR) maintains a robust contracted backlog of 45.1 gigawatts with deliveries extending through 2030, providing high volume and pricing visibility. First Solar Inc (NASDAQ:FSLR) is making progress with its CuRe technology, with performance exceeding expectations and initiating customer notifications for contractual adjusters, which is expected to enhance future revenue. First Solar Inc (NASDAQ:FSLR) continues to see strong demand from hyperscalers and data center developers, with recent bookings and project announcements supporting this trend. First Solar Inc (NASDAQ:FSLR) ended the quarter with approximately $1.7 billion in net cash, providing substantial balance sheet strength and financial flexibility. First Solar Inc (NASDAQ:FSLR) faces uncertainty and potential negative impacts from the pending Section 232 polysilicon investigation and tariffs, which could affect its international manufacturing operations. First Solar Inc (NASDAQ:FSLR) is experiencing higher over-the-road freight costs due to capacity tightening and diesel price volatility, which are partially offsetting logistics improvements. First Solar Inc (NASDAQ:FSLR) is incurring underutilization costs of approximately $30 million per quarter for its Southeast Asia manufacturing facilities while awaiting policy clarity on Section 232. First Solar Inc (NASDAQ:FSLR) is operating in a challenging rising commodity cost environment, with pressures on steel, aluminum, and electricity prices impacting input costs. First Solar Inc (NASDAQ:FSLR) faces potential delays in the Section 232 decision, which could extend policy uncertainty and keep customers on the sidelines, impacting near-term bookings momentum. First Solar Inc (NASDAQ:FSLR) is experiencing higher R&D expenses, including an impairment of certain R&D equipment no longer expected to be used in its technology roadmap. Q: How much of the 1.9 gigawatts in US gross bookings came from the Google-Steel River project, and how are you seeing general interest from the hyperscaler data center community?A: Mark Widmar, CEO, clarified that the Steel River project was already in the contracted backlog and was highlighted as a strategic win. He noted that recent announcements, including projects with Cypress Creek, Terra-Gen, and Panamint, total about 5 gigawatts of capacity, with half directly tied to hyperscalers like Google. He emphasized that hyperscalers prioritize supply certainty and reliability, which positions First Solar's domestic manufacturing and technology as a key advantage, and demand from this segment remains "insatiable." Q: What are your latest thoughts on the timing and potential impact of the Section 232 investigation, and how quickly will you move on your Southeast Asia strategy once you get clarity?A: Mark Widmar, CEO, stated that the policy is still evolving, but the company remains optimistic about a constructive outcome and is in constant contact with USTR and Commerce. He noted that demand is sitting on the sidelines, with ~2 GW booked in July, over 2 GW in contracts subject to CP, and another 2 GW in active conversations. Alex Bradley, CFO, added that the company is holding a decision on the ~1.8 GW of fully finished international capacity in Malaysia and Vietnam pending the 232 outcome, viewing it as an option. Q: If Section 232 waivers or quotas are granted for certain domestic cell producers, could that mute the price upside from the policy?A: Mark Widmar, CEO, acknowledged that any modifications versus a 100% restriction could have a dilutive impact on the strategic incentive. He stated the company is advocating to minimize such impacts and believes waivers would disincentivize domestic investment. Alex Bradley, CFO, cited the Section 201 tariff history, where a technology exemption "gutted" the provision, and argued that carve-outs don't make sense for a national security interest provision. Q: Can you elaborate on the potential permutations and timeline for the remaining Southeast Asia capacity, and would you bring that volume into the US as finished or unfinished products?A: Alex Bradley, CFO, explained that the company could bring fully finished product in, subject to demand and pricing, but it's also dependent on other tariff provisions like Section 301. He noted there is limited incremental capacity (a couple of hundred megawatts) in existing US finishing lines for semi-finished WIP. The key is finding a way to run the international factories at close to full capacity, which could involve selling fully finished product or potentially building another US finishing line, though that is less likely due to site and power availability. Q: How should we think about the Safe Harbor having played into the latest quarter, and how are you thinking about it as a leading indicator for future sales?A: Mark Widmar, CEO, noted that most of the 1.9 GW of US bookings occurred in July, outside the Safe Harbor date. He explained that the recent court ruling on the modular 5% CapEx rule came too late in the quarter to have an impact. He emphasized that Safe Harbor requirements, particularly FEOC restrictions for projects CODing in 2030, position First Solar well to serve demand in '29 and '30, as customers are being conservative to avoid jeopardizing their ITC or PTC. Q: What is your view on the timing of the Section 232 decision, and do you think it could slip past August into the fall?A: Mark Widmar, CEO, said he cannot give a strong view on whether it will be August or September, but the company is patient and engaged. He stated that the administration is signaling decisions are close, but the most important thing is that the implementation achieves the strategic intent and spirit of the policy. He reiterated that the industry needs certainty. Q: Are there opportunities to reduce input costs on US manufacturing, and how is the supply chain evolving on a multiyear basis?A: Mark Widmar, CEO, acknowledged a challenging rising commodity cost environment, with pressure on steel, aluminum, and fuel. He highlighted levers like driving more throughput, automation, and product redesign (e.g., back rails and glass thickness). He noted that CuRe's efficiency gains will help reduce cost per watt. Alex Bradley, CFO, added that the company could use its balance sheet to work with suppliers on expansion funding for forward pricing, and is optimizing domestic transport routes as freight costs are now approaching international shipping economics. Q: Can you explain what you are targeting with your current balance sheet regarding M&A, and where do you see possibilities for First Solar?A: Alex Bradley, CFO, stated that M&A is on the list of uses of cash, but the focus has been on working capital, capacity growth, and R&D. He mentioned the obvious area for expansion is technology-adjacent things, such as companies, teams, or IP that could accelerate the perovskite transition. He emphasized a disciplined focus, leveraging the company's strength in high-volume thin-film manufacturing, while evaluating the competitive landscape, market environment, and policy before moving into adjacent areas. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

First Solar, Inc. FSLR highlighted strong demand visibility, domestic manufacturing expansion and policy-driven opportunities during its second-quarter 2026 earnings call, while management maintained a disciplined approach to new bookings. Executives pointed to a record backlog, improving technology execution and U.S. manufacturing advantages as key factors supporting the company’s long-term strategy. CEO Mark Widmar said First Solar delivered record second-quarter and first-half sales volume. The company surpassed 100 gigawatts of cumulative module sales and ended the quarter with 45.1 gigawatts of contracted backlog extending through 2030. The company reported second-quarter revenue of $1.056 billion, down 4% year over year, while EPS reached $3.92. Results exceeded the Zacks Consensus Estimate of $2.74 EPS, while revenue was slightly below the $1.06 billion estimate. First Solar expanded gross margin to approximately 57%, supported by higher module volumes, Section 45X tax credits, tariff-related benefits and lower logistics costs. Adjusted EBITDA reached $644 million during the quarter. First Solar, Inc. price-consensus-eps-surprise-chart | First Solar, Inc. Quote CFO Alexander Bradley said contracted backlog totaled 45.1 gigawatts with an aggregate transaction value of $13.6 billion, excluding technology adjusters. Deliveries are scheduled through 2030, providing visibility into future demand. The company added approximately 1.9 gigawatts of U.S. gross bookings after the prior earnings call at an average selling price of about $0.36 per watt. Management said domestic capacity remains substantially committed through 2028. First Solar continues to prioritize contract quality, pricing discipline and risk allocation rather than maximizing short-term booking volume. Widmar said customer engagement has increased as the policy environment develops. A major theme during the call was the pending Section 232 polysilicon and derivatives investigation. Management said policy clarity is important for customer decision-making and future capacity allocation. A UBS analyst asked about potential impacts from recent domestic content policies and broader solar installation trends. Widmar said the industry is moving toward more localized supply chains and that First Solar’s existing U.S. manufacturing footprint positions it for this environment. During Q&A, Wells Fargo asked whether exemptions or quotas under Section 232 could reduce potential pricing benefits. Widmar said modifications could affect the policy’s impact, but emphasized the importance of creating a durable domestic supply chain. First Solar continues investing in CuRe technology, which management expects to improve module performance and create additional value through higher efficiency and potential pricing benefits. The company began customer notifications related to contractual CuRe adjusters during the quarter. The company is also advancing perovskite development. Widmar said the development line is progressing, while the Series 6 pilot line remains scheduled for operational readiness in the first half of 2027.Management said technology investments remain a key use of capital as the company seeks to extend its thin-film manufacturing advantages and develop future solar platforms. First Solar highlighted increasing demand from hyperscale customers building large-scale energy projects. Widmar referenced several recently announced projects totaling about 5 gigawatts of capacity, with significant volumes tied to corporate energy needs. Management said hyperscaler demand remains strong because customers value supply reliability, delivery certainty and domestic manufacturing capabilities. The company sees these projects as strategic opportunities requiring dependable module supply. A Goldman Sachs analyst asked about hyperscaler demand and booking opportunities. Widmar said additional customer discussions remain active, with several gigawatts of potential opportunities dependent on policy clarity and contractual conditions. First Solar reaffirmed its 2026 guidance, including expected net sales of $4.9 billion to $5.2 billion, adjusted EBITDA of $2.6 billion to $2.8 billion and capital expenditures of $800 million to $1 billion. For the third quarter, management expects module sales of 3.9 gigawatts to 4.5 gigawatts and adjusted EBITDA of $625 million to $775 million.The company ended the quarter with a net cash balance of $1.7 billion. Management said capital allocation remains focused on manufacturing expansion, technology investment and maintaining financial flexibility. First Solar carries Zacks Rank #4 (Sell), indicating that current earnings estimate revision trends are not favorable relative to stocks with stronger rankings. The Zacks Rank focuses on the impact of earnings estimate revisions and is designed to help identify stocks with potential performance differences over the next one to three months.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The stock has a Value Score of B, Growth Score of A, Momentum Score of C and VGM Score of A. Zacks Style Scores range from A to F, with higher grades reflecting stronger characteristics within each investment style category. The Zacks Rank can change as analysts update earnings estimates following new company developments. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

First Solar (FSLR) came out with quarterly earnings of $3.92 per share, beating the Zacks Consensus Estimate of $2.74 per share. This compares to earnings of $3.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +43.07%. A quarter ago, it was expected that this largest U.S. solar company would post earnings of $2.87 per share when it actually produced earnings of $3.22, delivering a surprise of +12.2%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. First Solar, which belongs to the Zacks Solar industry, posted revenues of $1.06 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.44%. This compares to year-ago revenues of $1.1 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. First Solar shares have lost about 23.7% since the beginning of the year versus the S&P 500's gain of 6.9%. While First Solar has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for First Solar was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $5.29 on $1.43 billion in revenues for the coming quarter and $17.54 on $5.1 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Solar is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Canadian Solar (CSIQ), is yet to report results for the quarter ended June 2026. This solar wafers manufacturer is expected to post quarterly loss of $1.01 per share in its upcoming report, which represents a year-over-year change of -90.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Canadian Solar's revenues are expected to be $1.17 billion, down 31.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR) : Free Stock Analysis Report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in First Solar, Inc.? Here are five stocks we like better. First Solar delivered a strong second quarter: Net sales reached approximately $1.06 billion, net income rose 24% to $423 million, and gross margin expanded to about 57%, helped by tariff-related benefits, Section 45X tax credits, and lower logistics costs. Demand and backlog remained robust: Contracted backlog stood at 45.1 GW valued at $13.6 billion, with deliveries scheduled through 2030. The company also reported new U.S. and India bookings and highlighted roughly 5 GW of hyperscaler-related projects. Full-year 2026 guidance was reaffirmed, while trade policy remains a key uncertainty. First Solar is advancing South Carolina capacity and perovskite technology, but future manufacturing decisions depend partly on the outcome of pending U.S. tariff and domestic-content regulations. Megatrends Still Matter: 3 Growth Stocks for the Next 10 Years First Solar (NASDAQ:FSLR) reported record second-quarter and first-half sales volume for 2026, with quarterly net sales exceeding $1 billion and gross margin expanding to about 57%, as the company continued to prioritize domestic manufacturing and disciplined contracting amid evolving U.S. trade policy. Chief Executive Officer Mark Widmar said the company also surpassed 100 gigawatts of cumulative module sales globally during the quarter. “We view this as a reflection of the trust customers have placed in First Solar,” Widmar said, citing the company’s technology and manufacturing platform. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now If Solar’s Rally Has Legs, These 2 Stocks Could Benefit Most Chief Financial Officer Alex Bradley said second-quarter net sales totaled approximately $1.06 billion, down about 4% from a year earlier. The year-over-year decline primarily reflected lower revenue tied to customer contract terminations recognized in the prior-year period, partly offset by higher module volume sold. Gross margin increased roughly 12 percentage points from the second quarter of 2025 to approximately 57%. Bradley attributed the improvement primarily to an estimated $89 million net benefit related to tariffs under the International Emergency Economic Powers Act, a higher mix of modules eligible for Section 45X tax credits, and lower logistics costs. → 3 Value ETFs to Consider as Growth Stocks Lag Behind As Global Renewables Surpass Coal, This ETF Offers Smart Exposure The tariff-related benefit reflects the company’s estimate of expected recoveries connected to commercial obligations and other tariff considerations, and remains subject to further refinement, Bradley said. Higher duties and tariffs, lower termination-related revenue, and elevated over-the-road freight expenses partly offset those gains. Net income was $423 million, up approximately 24% year over year. Adjusted EBITDA was $644 million, above the high end of the company’s previously communicated quarterly preview range. Adjusted EBITDA margin was 61%. Operating expenses totaled about $155 million, including $76 million in research and development spending. R&D expense rose from the prior year as First Solar continued investing in perovskite technology development and recorded impairment charges for certain R&D equipment no longer expected to be used in its technology roadmap. → 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest? As of June 30, First Solar had contracted backlog of 45.1 GW, representing an aggregate transaction value of $13.6 billion excluding technology adjusters. Scheduled deliveries extend through 2030. The company recorded approximately 1.9 GW of additional U.S. gross bookings since its prior earnings call, at an average selling price of about $0.36 per watt, including applicable technology adjusters. India gross bookings totaled approximately 1.1 GW in the first half, at an average selling price of about $0.20 per watt. Bradley said First Solar’s fully integrated U.S. manufacturing capacity remains substantially committed through 2028, supporting volume and pricing visibility. The company has continued to be selective in considering additional contracts because of limited uncommitted domestic capacity over the next several years. The company highlighted Cypress Creek Energy’s Steel River Energy Center in Arkansas, which uses First Solar modules and was already included in backlog. The initial phase is expected to provide approximately 1.6 GW of solar generation capacity and 1.9 GWh of battery storage to support Google’s energy needs. Widmar pointed to recently announced projects involving Cypress Creek, Terra-Gen and Panamint as evidence of continued demand from hyperscalers and other large corporate customers. He said the projects collectively represent about 5 GW of capacity, with roughly half directly tied to Google. First Solar’s U.S. facilities continued operating at high utilization during the quarter. Phase I of the company’s South Carolina finishing facility remains on track to begin production in the second half of 2026, while Phase II is now expected to be completed in mid-2027. Widmar said the revised Phase II timeline will allow earlier incorporation of the company’s CuRe technology. He said high-volume manufacturing results at the Perrysburg facility and field-deployment performance across several climates have exceeded expectations. When complete, the South Carolina site is expected to provide up to 3.5 GW of finishing capacity for modules initiated at First Solar’s international factories. The facility is intended to provide supply-chain flexibility and help optimize freight, tariff, domestic-content, and Section 45X economics. First Solar is also continuing its perovskite development program. Its Series 6 form-factor pilot line is expected to reach operational readiness in the first half of 2027. Management repeatedly cited pending outcomes from the Section 232 polysilicon and derivatives investigation, final foreign entity of concern regulations, and other tariff matters as important considerations for customer activity and manufacturing decisions. Widmar said First Solar expects a Section 232 outcome to be constructive but declined to predict its timing or final structure. He said the company believes policy clarity is needed for customers and the broader industry to move forward with greater certainty. First Solar has about 1.8 GW of fully finished manufacturing capacity in Malaysia and Vietnam that could potentially be ramped, after accounting for capacity serving the South Carolina finishing line. Bradley said the company is waiting for Section 232 policy clarity before determining the long-term role of that capacity. The company could bring finished international product into the U.S., use a limited amount of existing domestic finishing capacity for semi-finished products, or potentially consider another U.S. finishing line, although Bradley said building another facility was the less likely option. First Solar left its full-year 2026 guidance unchanged. The outlook now assumes a net tariff impact of $60 million to $80 million, including the estimated IEEPA recovery and an assumption that Section 301 tariffs will apply in the second half. For the third quarter, the company expects module volumes sold of 3.9 GW to 4.5 GW and adjusted EBITDA of $625 million to $775 million. Management said its priorities remain disciplined execution, technology advancement, customer service, prudent capital management, and preserving financial flexibility. First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona. Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "First Solar Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Net sales of $1.06 billion, a decrease of 4% year-over-year Net income per diluted share of $3.92, an increase of 23% year-over-year Adjusted EBITDA1 of $644 million Gross and net cash balance of $1.7 billion Contracted sales backlog of 45.1 GW as of June 30, 2026 PHOENIX, July 30, 2026--(BUSINESS WIRE)--First Solar, Inc. (Nasdaq: FSLR) (the "Company"), America’s leading PV solar technology and manufacturing company, today announced financial results for the second quarter ended June 30, 2026 and reaffirmed its 2026 guidance. Net sales were $1.06 billion for the second quarter of 2026, a 4% decrease compared to the second quarter of 2025, driven primarily by lower revenue associated with customer contract terminations, partially offset by an increase in the volume of modules sold to third parties. The Company reported second quarter net income of $423 million, or $3.92 per diluted share, compared to $342 million, or $3.18 per diluted share, in the second quarter of 2025. Adjusted EBITDA was $644 million compared to $560 million in the second quarter of 2025. Net cash balance decreased to $1.7 billion as of June 30, 2026 from $2.4 billion as of December 31, 2025, driven by seasonal working-capital needs and capital expenditures primarily for our South Carolina finishing facility. "We delivered both record second-quarter and first-half sales volume and improved financial performance relative to the prior year," said Mark Widmar, Chief Executive Officer. "We also surpassed 100 GW of cumulative module sales globally and ended the quarter with approximately 45.1 GW of contracted backlog extending through 2030, demonstrating continued demand for our differentiated technology platform, domestic manufacturing footprint and delivery certainty." Our 2026 guidance remains unchanged and is summarized below: From a third quarter earnings cadence perspective, we anticipate our module sales to be between 3.9 GW and 4.5 GW, including 3.2 GW to 3.7 GW from our U.S. manufacturing operations. These factors are expected to result in forecasted third quarter Adjusted EBITDA between $625 million and $775 million. The guidance figures presented above are forward-looking statements that are subject to a variety of assumptions and estimates, including with respect to the impact of public policies such as tariffs, export controls, or other trade remedies, freight-related costs, and certain factors related to the Inflation Reduction Act of 2022 (the "IRA"), as amended by the One Big Beautiful Bill Act of 2025. Our outlook assumes the current U.S. policy environment persists, and in addition, that permitting processes and timelines will remain consistent with historical levels. Investors are encouraged to listen to the conference call and to review the accompanying materials, which contain more information about First Solar’s second quarter 2026 financial results, 2026 guidance, and financial outlook. We are not providing forward-looking guidance for GAAP net income or a quantitative reconciliation of the Adjusted EBITDA guidance range to GAAP net income, the most directly comparable GAAP measure, because we are unable to predict with reasonable certainty the potential occurrence, financial impact or recognition period of significant items, such as share-based compensation, Section 45X tax credit discounts, contingencies and certain other gains or losses, as well as related income tax accounting because such items have not occurred, are out of our control, and/or cannot be reasonably predicted without unreasonable effort. These significant items are uncertain, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. See "Non-GAAP Financial Measures" for more information on Adjusted EBITDA, including identification of significant items that we believe are not indicative of our ongoing operations. Conference Call Details First Solar has scheduled a conference call for today, July 30, 2026, at 4:30 p.m. ET, to discuss this announcement. A live webcast of this conference call and accompanying materials are available at investor.firstsolar.com. A replay of the webcast will also be available on the Investors section of the Company’s website approximately two hours after the conclusion of the call and remain available for 30 days. About First Solar, Inc. First Solar, Inc. is America's leading photovoltaic ("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 research and development ("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. For more information, please visit www.firstsolar.com. For First Solar Investors This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical fact, are forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: demand for solar technology generally and for our technology specifically, including in the U.S. market, and our positioning to serve such demand; new capacity coming online; our expectations regarding the political and trade environment and its impacts; production and delivery of our modules; our financial guidance for 2026, including future financial results, net sales, gross profit, operating expenses, Adjusted EBITDA, net cash balance, capital expenditures, expected earnings cadence, volume sold, bookings, and expected module shipments; products and our business and financial objectives for 2026; the availability of benefits under certain production linked incentive programs; the impact of the IRA as amended by the One Big Beautiful Bill Act of 2025, including the Section 45X tax credits; our expectations regarding the sale of our Section 45X tax credits; and the impact of public policies such as tariffs, export controls or other trade remedies. These forward-looking statements are often characterized by the use of words such as "estimate," "expect," "anticipate," "project," "plan," "intend," "seek," "believe," "forecast," "foresee," "likely," "may," "should," "goal," "target," "might," "will," "could," "predict," "continue," "contingent," and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments, or otherwise. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by our forward-looking statements. These factors include, but are not limited to: structural imbalances in global supply and demand for PV solar modules; our competitive position and other key competitive factors; the market for renewable energy, including solar energy; the modification, reduction, elimination, or expiration of government subsidies, economic incentives, tax incentives, renewable energy targets, and other support for on-grid solar electricity applications; the impact of public policies, such as tariffs, export controls, or other trade remedies imposed on solar cells and modules or related raw materials or equipment; interest rate fluctuations and our customers’ ability to secure financing; our ability to execute on our long-term strategic plans, including our ability to secure financing and realize the potential benefits of strategic acquisitions and investments; the loss of any of our large customers, or the inability of our customers and counterparties to perform under their contracts with us, including through terminations by customers of any contract in part or in full; our ability to execute on our solar module technology and cost reduction roadmaps; the performance of our solar modules upon installation; our ability to improve the wattage of our solar modules; our ability to incorporate technology improvements into our manufacturing process, including the implementation of our Copper Replacement ("CuRe") program; our ability to attract new customers and to develop and maintain existing customer and supplier relationships; general economic and business conditions, including those influenced by U.S., international, and geopolitical events and conflicts; environmental responsibility, including with respect to cadmium telluride ("CdTe") and other semiconductor materials; claims under our limited warranty obligations; changes in, or the failure to comply with, government regulations and environmental, health, and safety requirements; effects arising from and results of pending litigation; future collection and recycling costs for solar modules covered by our module collection and recycling program or otherwise as required by external laws and regulations; supply chain disruptions; our ability to protect or successfully commercialize our intellectual property; our ability to prevent and/or minimize the impact of cybersecurity incidents or information or security breaches; our continued investments in R&D; the supply and price of key raw materials (including CdTe, tellurium, and tellurium compounds), components, and manufacturing equipment; our ability to construct new production facilities to support new product lines; evolving corporate governance and public disclosure regulations and expectations, including with respect to environmental, social, and governance matters; our ability to avoid manufacturing interruptions, including during the ramp of new module manufacturing facilities; our ability to attract, train, retain, and successfully integrate key talent into our team; the severity and duration of public health threats, and the potential impact on our business, financial condition, and results of operations; and the matters discussed under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" of our most recent Annual Report on Form 10-K, as supplemented by our other filings with the Securities and Exchange Commission. Non-GAAP Financial Measures This press release includes earnings before interest, taxes, depreciation and amortization ("EBITDA"), EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin, non‑GAAP measures, to provide supplemental information to our GAAP results. These non‑GAAP measures are not prepared in accordance with GAAP and should not be considered a substitute for, or superior to, the most directly comparable GAAP measure, net income and net income margin. Investors should review our financial information in its entirety and not rely on any single financial measure. First Solar’s management uses these non-GAAP financial measures to better understand and compare operating results across periods. Management believes these non-GAAP financial measures reflect First Solar’s ongoing business in a manner that will allow for meaningful period-to-period comparisons and analysis of trends in First Solar’s business. Management also believes that these non-GAAP financial measures provide useful information to investors and others to understand and evaluate First Solar’s operating results and prospects in the same manner as management. The following are explanations of each of the adjustments that we incorporate into Adjusted EBITDA, as well as the reasons we add back each of these individual items to determine Adjusted EBITDA: Foreign currency (loss), net: Refers to the net effect of gains and losses resulting from holding assets and liabilities and conducting transactions denominated in currencies other than our subsidiaries’ functional currencies. Foreign currency is excluded because the timing of such currency‑related impacts is uncertain and may obscure underlying operating performance and trends. Other expense, net: Primarily comprises miscellaneous items and financing fees, such as gains/losses on investments or other discrete non‑operating items. These amounts are generally driven by market factors, financing and investment decisions, or one‑time transactions rather than core operations and can be volatile across periods. Share‑based compensation: Is a non‑cash charge reflecting the grant‑date fair value of equity awards recognized over vesting periods. We exclude it because it is significantly influenced by equity program design and stock price volatility, limiting comparability across companies and periods. Section 45X tax credit discounts: When we sell Section 45X tax credits, the cash proceeds received may be less than the notional credit amount due to market pricing, counterparty terms, and payment timing. Economically, this shortfall is akin to a financing cost — the cost of converting a future cash benefit into earlier liquidity — rather than a reflection of underlying manufacturing performance. We therefore exclude these transfer discounts from Adjusted EBITDA to improve comparability across periods and to separate core operating results from financing/monetization decisions. Underutilization (unallocated fixed production overhead): If our plant utilization is abnormally low, the portion of our indirect manufacturing costs related to the abnormal utilization level is expensed as incurred rather than absorbed into inventory. We exclude these costs because they are sensitive to timing, production curtailments, and transitory disruptions. Production start‑up: Consists of costs associated with operating a production line before it is qualified for commercial production, including the cost of raw materials for solar modules run through the production line during the qualification phase, employee compensation for individuals supporting production start-up activities, and applicable facility related costs. Production start-up expense also includes costs related to the selection of a new site and implementation costs for manufacturing process improvements to the extent we cannot capitalize these expenditures. We exclude these costs because they are driven by discrete expansion and launch activities and are not reflective of our ordinary operating performance. These costs are typically incurred over a defined ramp‑up period, can vary significantly based on the timing and scale of new expansions, and may not be indicative of our run‑rate cost structure once a facility or initiative reaches normal utilization levels. Management believes adjusting our GAAP results for the items described above to determine Adjusted EBITDA is useful to investors in assessing underlying operating performance and comparing period-to-period results, because these items (i) are largely non‑cash, (ii) can vary significantly based on timing of capacity ramps, start‑ups, and discrete events, or (iii) are not reflective of our ongoing operating cost structure. EBITDA Margin and Adjusted EBITDA Margin are calculated as EBITDA and Adjusted EBITDA, respectively, divided by net sales. The most directly comparable GAAP measure is net income margin, calculated as net income divided by net sales. Our presentation of EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin should not be construed as an implication that our actual future results will be unaffected by the items contemplated by the adjustments described above. Our presentation of EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin has limitations, including (among others): it does not reflect all of our cash expenditures; it does not reflect changes in our working capital needs; it does not reflect the discount on the sale of our Section 45X credits; it does not reflect the interest expense on our indebtedness; it does not reflect any income tax expenses we may incur or payments we may be required to make; and it does not reflect the impact of capacity ramps, start-ups, and discrete charges resulting from certain matters that we believe may not be indicative of our ongoing operations. Other companies in our industry may calculate EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin differently than we do because they do not have standardized definitions, which limits their usefulness as comparative measures in relation to other companies. View source version on businesswire.com: https://www.businesswire.com/news/home/20260730673319/en/ Contacts First Solar Investors [email protected] First Solar Media [email protected]