Every material Form 8-K First Solar has filed with the SEC since May 01, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
First Solar reported third quarter 2026 net sales of $1.23 billion, down 23% year-over-year, while net income per diluted share rose 25% to $5.30. The company updated its full-year 2026 guidance, lowering net sales expectations to between $4.6 billion and $4.9 billion, and announced a new $500 million share repurchase program.
Q3 2026 net sales were $1.23 billion, representing a 23% decrease compared to Q3 2025.
Diluted net income per share increased 25% year-over-year to $5.30 for the third quarter.
Full-year 2026 net sales guidance was revised to $4.6 billion to $4.9 billion, down from the prior range of $4.9 billion to $5.2 billion.
The board of directors authorized a share repurchase program of up to $500 million on October 29, 2026.
First Solar reported second-quarter 2026 net sales of $1.06 billion, down 4% from a year earlier, mainly due to lower revenue from customer contract terminations. Net income rose to $423 million, or $3.92 per diluted share, from $342 million, or $3.18, a year earlier, and the company reaffirmed its full-year 2026 guidance without change.
Net sales were $1.06 billion, down 4% year over year, partly offset by higher volume of modules sold to third parties.
Net income was $423 million, or $3.92 per diluted share, versus $342 million, or $3.18, in Q2 2025.
Adjusted EBITDA was $644 million, compared with $560 million a year earlier.
2026 guidance was unchanged, including net sales of $4.9 billion to $5.2 billion and Adjusted EBITDA of $2.6 billion to $2.8 billion; the net cash balance was $1.7 billion at June 30, 2026, down from $2.4 billion at December 31, 2025.
First Solar reported first-quarter 2026 net sales of $1.04 billion, up 24% from a year earlier, and net income of $347 million, or $3.22 per diluted share, versus $1.95 a year earlier. The company left its full-year 2026 guidance unchanged, which keeps its outlook for volume, sales, and Adjusted EBITDA as previously set.
Net sales of $1.04 billion, up 24% year over year, driven mainly by higher module volume sold to third parties
Net income of $347 million, or $3.22 per diluted share, compared with $210 million, or $1.95, in Q1 2025
Adjusted EBITDA of $520 million, compared with $379 million a year earlier; 2026 Adjusted EBITDA guidance of $2.6 billion to $2.8 billion reaffirmed
Net cash balance fell to $2.0 billion at March 31, 2026, from $2.4 billion at December 31, 2025
First Solar reported fourth quarter and full-year 2025 results, with net sales of $1.7 billion for the quarter and $5.2 billion for the year, up from $4.2 billion in 2024. The company also issued 2026 guidance calling for net sales of $4.9 billion to $5.2 billion and Adjusted EBITDA of $2.6 billion to $2.8 billion, which compares with 2025 Adjusted EBITDA of $2.36 billion shown in the filing's reconciliation.
Q4 2025 net income per diluted share was $4.84, versus $3.65 in Q4 2024; full-year 2025 diluted EPS was $14.21, versus $12.02 in 2024
2026 guidance: volume sold of 17.0 GW to 18.2 GW, net sales of $4.9 billion to $5.2 billion, and year-end net cash balance of $1.7 billion to $2.3 billion
Year-end 2025 net cash balance was $2.4 billion, helped by proceeds from sales of 2025 Section 45X tax credits
First Solar entered a five-year, $1.5 billion senior unsecured revolving credit facility with JPMorgan Chase Bank as administrative agent, dated February 13, 2026. The company voluntarily terminated its existing senior secured revolver dated June 30, 2023 at the same time, and the collateral securing that prior facility was released. The new facility's terms, including covenants capping net leverage at 3.50 to 1.00 and requiring interest coverage of at least 3.00 to 1.00, will govern the company's borrowing capacity going forward.
Facility size: $1.5 billion aggregate principal, with a $450 million sub-limit for letters of credit
Pricing before an investment grade ratings trigger: Term SOFR plus 1.000% to 1.500% based on net leverage
Covenants: net leverage not to exceed 3.50 to 1.00; interest coverage of at least 3.00 to 1.00
Existing senior secured revolving credit agreement dated June 30, 2023 terminated; collateral released
First Solar reported third quarter 2025 net sales of $1.6 billion, up $0.5 billion from the prior quarter, and diluted earnings of $4.24 per share, up from $3.18 in the second quarter. The company narrowed its 2025 guidance: the net sales range is now $4.95 billion to $5.20 billion, down from $4.90 billion to $5.70 billion, while the diluted EPS range is $14.00 to $15.00, up at the low end and down at the high end from $13.50 to $16.50.
Q3 2025 net sales of $1.6 billion versus $1.1 billion in Q2 2025; net income per diluted share of $4.24 versus $3.18 in Q2 2025
2025 net sales guidance narrowed to $4.95 billion to $5.20 billion from $4.90 billion to $5.70 billion
2025 volume sold guidance is 16.7 GW to 17.4 GW, down from 16.7 GW to 19.3 GW
Net cash balance at September 30, 2025 was $1.5 billion, up from $0.6 billion at the end of Q2; 2025 net cash guidance raised to $1.6 billion to $2.1 billion
First Solar reported second-quarter 2025 net sales of $1.1 billion, up $0.3 billion from the prior quarter, and diluted earnings of $3.18 per share, up from $1.95 in the first quarter. The company raised its 2025 net sales guidance to $4.9 billion to $5.7 billion and kept the midpoint of its diluted EPS guidance at $15.00, narrowing the range to $13.50 to $16.50. Shareholders get a stronger quarter and a higher sales outlook, though year-over-year quarterly EPS was slightly below the $3.25 reported in the second quarter of 2024.
Q2 2025 net sales $1.1 billion, up $0.3 billion from Q1; net income $341.9 million
Diluted EPS $3.18 versus $1.95 in Q1 2025 and $3.25 in Q2 2024
2025 net sales guidance raised to $4.9 billion to $5.7 billion from $4.5 billion to $5.5 billion
Sold $312 million of Section 45X tax credits for $296 million cash, recognizing a $16 million loss
First Solar reported first quarter 2025 net sales of $0.8 billion and diluted earnings of $1.95 per share, down from $2.20 a year earlier. The company cut its 2025 guidance to reflect the expected impact of new tariffs implemented in April 2025, lowering its earnings per diluted share outlook to $12.50 to $17.50 from $17.00 to $20.00. For shareholders, the lower outlook and a drop in net cash to $0.4 billion from $1.2 billion at year end signal reduced expected profitability and cash in 2025.
Q1 2025 net sales were $0.8 billion, down $0.7 billion from the fourth quarter of 2024 but up from $794 million in Q1 2024
Q1 2025 diluted EPS was $1.95, versus $3.65 in Q4 2024 and $2.20 in Q1 2024
2025 EPS guidance cut to $12.50 to $17.50 from $17.00 to $20.00; net sales guidance cut to $4.5 billion to $5.5 billion from $5.3 billion to $5.8 billion
Net cash balance fell to $0.4 billion from $1.2 billion at year end, driven by Louisiana manufacturing capital expenditures and higher inventories
First Solar director Molly E. Joseph notified the company on March 12, 2025, that she will not seek re-election to the Board at the 2025 Annual Meeting of Stockholders. She will remain on the Board and its committees until that meeting, and the filing states the decision was not due to any disagreement with the company or its management.
Notice given March 12, 2025; 8-K filed March 14, 2025
Molly E. Joseph will not stand for re-election at the 2025 Annual Meeting
Joseph will continue serving on the Board and its committees until the meeting
Filing states no disagreement with the company or management; she has served since 2017
First Solar reported fourth-quarter 2024 net sales of $1.5 billion, up $0.6 billion from the prior quarter, and diluted earnings of $3.65 per share, up from $3.25 a year earlier. The company also gave 2025 guidance of $5.3 billion to $5.8 billion in net sales and $17.00 to $20.00 in earnings per diluted share, which gives shareholders a outlook for the year ahead.
Q4 2024 net sales $1.5 billion; full-year 2024 net sales $4.2 billion, up from $3.3 billion in 2023
Q4 2024 diluted EPS $3.65 vs. $3.25 in Q4 2023; full-year 2024 diluted EPS $12.02 vs. $7.74
2025 guidance: net sales $5.3 billion to $5.8 billion; diluted EPS $17.00 to $20.00; operating income $1.95 billion to $2.30 billion
Year-end 2024 net cash balance of $1.2 billion, up from $0.7 billion at the end of the prior quarter
First Solar said it will sell $857 million of 2024 Section 45X tax credits to a third party at $0.955 per $1.00 of credits, with about $819 million in expected gross cash proceeds. The company expects the transaction to reduce its 2024 diluted earnings by about $0.42 per share, with a pre-tax earnings impact of about $39 million, and CFO Alex Bradley said it strengthens the balance sheet.
Sale of $857 million of 2024 Section 45X tax credits at $0.955 per $1.00 of credits
$645 million fixed portion paid December 6 and December 30, 2024; $212 million variable portion expected to close by February 28, 2025
Expected gross cash proceeds of about $819 million; 2024 pre-tax earnings impact of about $39 million and diluted EPS reduction of about $0.42
First Solar appointed Nathan Theurer, a company veteran since 2014 and its Corporate Controller since 2019, as Vice President, Global Controller and Chief Accounting Officer, effective January 6, 2025. The prior holder of that role, Byron Jeffers, moved to Vice President, Treasurer and Head of Investor Relations on the same date. The change affects who signs accounting matters and manages investor communications, but the filing reports no financial results.
Nathan Theurer appointed Vice President, Global Controller and Chief Accounting Officer, effective January 6, 2025, reporting to the CFO
Theurer's annual base salary is $280,000, with a target bonus of 40% of base salary
Byron Jeffers moved from Global Controller and Chief Accounting Officer to Vice President, Treasurer and Head of Investor Relations, effective January 6, 2025
On December 6, 2024, First Solar signed two Tax Credit Transfer Agreements with Visa Inc. under which it agreed to sell up to $870 million of 2024 advanced manufacturing production tax credits. The fixed agreement covers $645 million for a purchase price of $615,975,000, with $400 million paid on December 6, 2024 and the balance due December 30, 2024. The variable agreement covers up to $225 million more at $0.955 per $1.00 of credits, payable February 28, 2025, and shareholders will not know the final amount until First Solar determines it later.
Fixed agreement: $645 million of Section 45X tax credits for a purchase price of $615,975,000.
Payments: $400 million received December 6, 2024; $215,975,000 due December 30, 2024.
Variable agreement: up to $225 million more in credits at $0.955 per $1.00, due February 28, 2025; final amount to be set later.
First Solar reported third quarter 2024 net sales of $887.7 million, down from $1.01 billion in the prior quarter, and diluted earnings of $2.91 per share, down from $3.25. The company cut several 2024 guidance ranges, including net sales to $4.10 billion to $4.25 billion from $4.4 billion to $4.6 billion, and lowered its volume sold outlook, which matters to shareholders because it reduces expected 2024 revenue and profit.
Q3 2024 net sales were $887.7 million versus $1.01 billion in Q2 2024; the release cites lower volume sold and a $50 million product warranty reserve charge.
Diluted EPS was $2.91 for Q3 2024, compared with $3.25 in Q2 2024 and $2.50 in Q3 2023.
2024 guidance now calls for operating income of $1.48 billion to $1.54 billion (prior $1.5 billion to $1.6 billion) and volume sold of 14.2 GW to 14.6 GW (prior 15.6 GW to 16.3 GW).
Cash, cash equivalents and marketable securities, less debt, fell to $0.7 billion from $1.2 billion in Q2, mainly due to capital expenditures for new U.S. factories in Alabama and Louisiana.
First Solar reported second quarter 2024 net sales of $1.0 billion, up $0.2 billion from the first quarter, and net income of $349 million, or $3.25 per diluted share. The company kept its full-year 2024 guidance unchanged. Cash net of debt fell to $1.2 billion from $1.4 billion, mainly due to capital spending on new U.S. factories in Alabama and Louisiana.
Net sales were $1.0 billion, up from $794 million in the first quarter of 2024.
Net income per diluted share was $3.25, compared with $2.20 in the first quarter of 2024.
Full-year 2024 guidance is unchanged, including net sales of $4.4 billion to $4.6 billion and earnings per diluted share of $13.00 to $14.00.
Cash, marketable securities and restricted cash, less debt, fell to $1.2 billion from $1.4 billion at the end of the prior quarter.
First Solar reported first quarter 2024 net sales of $794 million and diluted EPS of $2.20, down from the fourth quarter of 2023 but up sharply from a year earlier. The company kept its full-year 2024 net sales, gross margin, operating income and EPS guidance unchanged, but cut its expected year-end net cash balance to $600 million to $900 million and raised its capital expenditure forecast to $1.8 billion to $2.0 billion.
Q1 2024 net sales of $794 million, down $0.4 billion from the prior quarter and up from $548 million in Q1 2023
Diluted EPS of $2.20 versus $3.25 in Q4 2023 and $0.40 in Q1 2023; net income of $236.6 million
2024 guidance: net sales $4.4 billion to $4.6 billion and EPS $13.00 to $14.00 unchanged; net cash balance lowered to $600 million to $900 million from $0.9 billion to $1.2 billion
Capital expenditure guidance raised to $1.8 billion to $2.0 billion from $1.7 billion to $1.9 billion; cash less debt fell to $1.4 billion from $1.6 billion
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