First Solar sells $857 million of 2024 tax credits; expects $0.42 diluted EPS hit
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 20, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.